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  4. Technical Analysis: EUR/USD 2012.04.13

Technical Analysis: EUR/USD 2012.04.13

April 13, 2012 12:03

  The pair broke above the 100-Day SMA. Should it hold on its gains, the uptrend will likely continue ahead of the 1.3485 resistance. However, a break back below the 100-Day SMA could trigger a setback towards the 1.3000 support, with a break below to confirm the bearish bias and accelerate declines towards the 1.2625 low.    

Edward Smith, technical analyst of company Admiral Markets.

At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.

 

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