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30.05.2012 05:06 PM
EUR/USD Weekly Analysis For May 30 /2012 (Weekly Strategy)

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The weekly technical analysis for the EUR/USD pair shows an important key level 1.2400 as the nearest support. We believe this is a good level because the pair is very oversold. If we notice, the weekly trend line has been broken which means that the pair have long-term bearish implications.

Therefore, it is recommended to wait a torque recovery as part of the pullback to 1.2950 area. At that level we recommend selling as part of a new sequence of bearish medium-term with objectives to 1.2000. If crisisis in the eurozone continues, it is likely that the euro will reach this level.

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