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EUR/USD: Bull Threat Re-Energizing To Aim Through 1.3830/35 Area

Published 12/10/2013, 03:51 AM
Updated 12/12/2023, 05:55 AM
EUR/USD
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EUR/USD bull threat re-energizing to aim through key 1.3830/35 area

  • We have stressed in recent reports that “we see growing risk for a resumption of a more bullish theme through 1.3750.”
  • A probing still higher over the past 36 hours has reinforced the break above 1.3645/50 resistance to probe this a.m. above this better topping barrier.
  • Above 1.3750 re-energizes bull risk to now aim through the Q4 high at 1.3830 and critical long term barrier at 1.3835, 61.8% retrace of the 2011-12 sell off.
  • Above here targets 1.4000, then a key 1.4246 peak.

WHAT CHANGES THIS?

  • Through 1.3625/20 eases bull risks, only below 1.3525 back to neutral; through 1.3400 re-energizes bear pressures.

Please see latest audio-visual analysis here:
Daily <span class=EUR/USD" title="Daily EUR/USD" height="478" width="614">
Weekly <span class=EUR/USD" title="Weekly EUR/USD" height="478" width="614">

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