The EURUSD continued its bullish momentum yesterday and now traded above 1.3700. This fact keeps the bullish technical view remains strong targeting 1.3800 in nearest term before testing 1.4000 area. Immediate support at 1.3670 followed by 1.3625 but as long as price stays above 1.3500 the major outlook remains bullish. Note that the Egypt political riot is like a time bomb. Many countries were reported to evacuate their citizens out of Egypt as they fear that growing numbers and intensity of protesters can be very dangerous and may create more instability and chaos that could trigger another risk aversion sentiment and weaken the Euro.
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