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EUR/USD At 1.2345, Important Fibonacci And Chart Level

Published 06/01/2012, 09:09 AM
Updated 05/14/2017, 06:45 AM
EUR/USD
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EUR/USD:

 1.2345

Very Short-Term Trend: downtrend

Outlook: EUR/USD is right at 1.2345 important Fibonacci and chart level. This is the last chance for the EUR bulls to save EUR from entering a prolong and deep bear market. Should this level fail the weekly chart will become quite negative (it is still neutral now). 
Now, the hourly chart is very negative and shows no signs that this market can turn up. Still, there is a minor divergence on hourly RSI and MACD indicators and the price, so I expect some kind of an upward reaction today, most likely twd 1.2440/50....

Strategy: Shorts favored at 1.2450/60 against 1.2510.

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