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Alert - 15:00 (CET) - EurUsd
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The first reading of the employment data in the US, where 533.000 jobs were lost, prompted the Euro to advance almost 100 pips against the Dollar. However, a few minutes after, the second reading based on the investors' fears that the US situation translates into a global recession made the Dollar shine its safe haven condition, regaining the lost ground, in a challenging attitude.
The EurUsd trading at 1.2668, ranging between 1.2628 and 1.2799, under yesterday's close at 1.2777. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The traders are watching the supports at 1.2500, 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).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 54 points, near the oversold area. The average volatility per hour is 250 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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