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Alert - 09:35 (CET) - EurUsd
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After an unprecedented session for the Euro yesterday, climbing almost 400 pips against the Dollar, it was forced to profit take from 1.3400 dollars. The fact that the US Senate failed to approve the bailout plan for the automakers was a bucket of cold water for the equity markets. This way, the investors went back to the Dollar and the Yen safe havens, waiting for further reactions in the stocks.
The EurUsd is trading at 1.3282, ranging between 1.3251 and 1.3406, under yesterday's close at 1.3352. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA.
The traders are watching the supports at 1.3000 (key), 1.2800 (December 9th low), 1.2517 (December 1st low) and 1.2334 (October 27th low). The resistances are watched at 1.3687 (October 15th high), 1.4000 (key) and 1.4768 (September 25th high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 54 points, after being overbought. The average volatility per hour is 200 pips. Checking the daily graphics, we see that the current price is under the 38.20% (1.3920) and over the 50.00% (1.3280) Fibonacci retracement lines.
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