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05.04.2012 10:56 AM
EUR/USD Intraday Technical Analysis

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The spot rate is presently testing the intermediate support of its medium term bearish channel in 1.3110 indicating a possible rebound. However a break of these levels would entail a decline to its lower limit 1.2950.

Technical indicators provides signals for Buy-deals and approaching the oversell zone supporting the assumptions of a rebound. Bollinger bands are much discarded due to the strong increase that took place these days. The situation is expected to stabilize soon.

According to previous events, the market indicates a bullish opportunity at the level 1.3110 with 1.3170 and 1.3190 seen as targets. A breakdown in 1.3090 will reverse this scenario.



 

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