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02.10.2012 05:19 PM
EUR/USD Bullish Outlook for October 02/ 2012 (Daily Strategy)

 

The euro is above the 200-day moving average, forming a very strong support, having tried to close below this level for three times, which increases the probability that in the short-term the euro should be trading above 1.30.
In the medium-term we remain bullish for over 1.2750, therefore, we recommend always buying reversals to the supports. Below 1.27 the rate will change for a more bullish outlook and trigger a fall to 1.23.
We, therefore, recommend buying at current levels with objectives to the last daily resistance of 1.3150.

 

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