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EUR/USD Hits Two Months High

July 2, 2007 (Last updated on November 30, 2009) by

Today Forex was a very unlucky place for U.S. dollar as the EUR/USD rallied to its two months high at 1.3630. Even good ISM index data (56% — a 1% rise — against 55% expected) couldn’t help U.S. currency after last week losses. It is almost certain now that EUR/USD has broken the down-trend and is now heading north. Probable point of strong resistance can be seen at 1.3650 level, which if broken can mean a rally to 1.3800. While, stopping at 1.3650 will probably for a double-peak pattern with a new correction wave.

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