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27.04.2012 05:18 PM
EUR/USD Sell Bellow 1.3290 - April 27, 2012 (Daily Strategy)

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The euro remains strong over the area of 1.32 despite a downgrade of Spanish debt produced on Thursday. The moving average of 50 periods is below the rates serving as a support in the uptrend movement and is located quite closely to the weekly resistance 1.3297.

Considering that the pair is overbought. we must wait until that level to sell the pair in the correction, so we recommend selling below the resistance weekly 1.3295 with targets of the bullish trendline around 1.3180.

The Momentum and Range indicator are showing the levels of congestion and a possible downward correction.

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