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Alert - 09:25 (CET) - EurUsd
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We start the week with the EurUsd trading at 1.2825, ranging from 1.2772 to 1.2898. The current price is over yesterday's close at 1.2772. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The supports are set at 1.2500 (key), 1.2324 (January 2006 high) and 1.2000 (key). As the resistance at 1.2733 (October 23rd high) was broken, the traders are watching the next at 1.3000 (key) and 1.3353 (October 21st high).
In any case, the major is ranging, so far in November, from 1.2500 to 1.3000, approximately. In the Asian session during the night, we observed a renewed appetite for high yielders like the Euro, as China announced an economic stimulus package of 586 billion Dollars.
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 53 points, rebounding from the overbought area. The average volatility per hour is 200 pips. Checking the daily graphics, we see that the current price is under the 38.20% (1.3063) and over the 50.00% (1.2141) Fibonacci retracement lines.
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