from the monthly chart we can see clearly that this is a bearish engulfing pattern being formed at the resistance 1.5140 area this year. With a slew of good data from the US and investors seems to be upbeat on the road to recovery will we see the fed raising interest rates sooner in 2010 ? Technically the chart seems to suggest a reversal pattern or a deep correction for the pair at the moment. Lets see how things will unfold next year as we brace ourselves for a brand new start to the year 2010!
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