EUR/USD The Euro surged yesterday, breaking above key 1.3241 - TopicsExpress



          

EUR/USD The Euro surged yesterday, breaking above key 1.3241 barrier and posted fresh high at 1.3305. Completion of 1.3241/1.2795 phase, opens way for fresh leg higher, with 1.3341, Fib 61.8% of larger 1.3710/1.2744 descend, seen as initial target. However, consolidative phase that is underway and so far contained by previous high, may extend lower, as hourly / 4h studies are overbought and dips towards initial 1.3200, 50% of yesterday’s rally, not ruled out. The markets are awaiting US NFP data release, with positive sentiment being established, would drive the pair towards next barrier at 1.3400, in case today’s release comes below expectations. Res: 1.3260, 1.3305, 1.3350, 1.3400 Sup: 1.3234, 1.3200, 1.3172, 1.3140
Posted on: Fri, 07 Jun 2013 10:49:21 +0000

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