Tuesday, December 24, 2013

EUR/USD Contained by 1.3711/1.3695

As expected, the resistance at 1.3711/1.3695 is keeping the bulls at bay and is likely to prevent further appreciation of the Euro. Therefore there is a good chance that EUR/USD will now start moving towards 1.3610/1.3597, the nearest significant support, formed by the 55-day SMA and the weekly S1 level.



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