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EUR/USD Uptrend Lowers Pace

July 12, 2007 (Last updated on November 30, 2009) by

EUR/USD, showing three days of straight growth with new monthly maximums every day, slightly lowered its rally today. Almost touching 1.3800 this currency pair stopped at 1.3797 and then rolled back for around 20 pips. Meanwhile, initial jobless claims for the previous week came out better than expected — 308,000 against 320,000 claims. U.S. trade balance came out at the expected level — $60.0 billions. If tomorrow Friday will be bullish and the 1.3800 level be broken a larger scale uptrend for EUR/USD will begin.

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