Trading Forecast EUR/USD
June 14, 2011 6:38 AM GMT
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| EUR/USD closed higher on Monday and above the 10-day moving average crossing signalling that a short-term bottom has likely been posted. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it extends the rebound off May's low, the 87% retracement level of May's decline crossing is the next upside target. |
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