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Alert - 09:40 (CET) - EurUsd
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Since the Asian session opening that the investors are back to the safe havens, as the Ministers of Finances and central bankers from the G7 classified the current financil crisis as "severe". Also, Japan recorded its worst decline in 35 years in the fourth quarter, which made the investors to seek refuge in the Dollar, that is climbimb 0.86% against the Euro.
The EurUsd is trading at 1.2746, ranging between 1.2727 and 1.2864, under yesterday's close at 1.2862. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
As the support at 1.2800 (December 9th low) was broken, the traders are contemplating the next at 1.2628 (December 5th low) and 1.2500 (key). The resitances, on the other hand, are beiing watched at 1.3000 (key), .3387 (January 19th low) and 1.3799 (January 8th low).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 35 points, near the oversold area. The average volatility per hour is 235 pips, with the price between the medium and lower channel. Checking the daily graphics, we see that the current price is under the 50.00% (1.3360) and over the 61.80% (1.2740) Fibonacci retracement lines.
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