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EUR/USD closed lower on Wednesday and the low-range close sets the stage for a steady to lower opening on Thursday. Prices closed near the session low today and saw mild profit-taking pressure. The bulls still have the solid overall near- term technical advantage. Closes below Tuesday's low crossing are needed to confirm that a short-term top has been posted. If it renews this month's rally, October's high crossing is the next upside target.

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USD/JPY closed higher on Wednesday and the high-range close sets the stage for a steady to higher opening on Thursday. Prices closed near the session low today on profit taking. Bulls still have the overall near-term technical advantage. Prices are still in a four-month-old uptrend on the daily bar chart. If it extends the decline off October's high, October's low crossing is the next downside target. Closes above the 20-day moving average crossing would temper the near-term friendly outlook in the market.

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GBP/USD closed higher on Wednesday and the high-range close sets the stage for a steady to higher opening on Thursday. Prices closed near mid-range today. Bulls have the slight near-term technical advantage but trading has turned choppy. The next upside price objective for the bulls is closing prices above solid technical resistance at the November high. The next upside price objective for the bulls is closing prices above solid technical resistance at the November high.

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USD/CHF closed higher on Wednesday and the high-range close sets the stage for a steady to higher opening on Thursday. Prices closed near the session low today. Bulls have the overall near-term technical advantage. The next upside price objective for the bulls is closing prices above solid resistance. If it renews this month's decline, October's low crossing is the next downside target.