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Alert - 09:20 (CET) - EurUsd
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Despite the optimism surrounding Obama's inauguration, the equity markets are in the red zone. The losses of the financial sector in the fourth quarter prompt the fears that the access to credit will be more difficult than expected initially, slowing down the economy even more. This way, the investores sought refuge in the Dollar once again, triggering an advance of 0.31% against the Euro.
After losing the 1.3000 support, the EurUsd is trading at 1.2886, under yesterday's close at 1.2094. 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 1.2800 (December 9th low), 1.2628 (December 5th low) and 1.2500 (key). The resistances are set at 1.3000 (key), 1.3387 (January 19th high) and 1.3799 (January 8th high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 39 points, after being oversold. The average volatility per hour is 185 pips. Checking the daily graphics, we see that the current price is under the 50.00% (1.3280) and over the 61.80% (1.2740) Fibonacci retracement lines.
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