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The ProShares UltraShort EURO (EUO) has been consolidating in a pennant like formation over the past three sessions. EUO offers two potential long entries. The first would be if EUO rallies above the three day high of $19.82. EUO could also offer a buying opportunity on a pullback and/or undercut of its 20-day and 50-day moving averages. We are monitoring this ETF closely for a possible long entry.

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