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Alert - 09:25 (CET) - EurUsd
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The EurUsd is trading at 1.2872, ranging between 1.2805 and 1.2898, over yesterday's close at 1.2846. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The supports are being watched at 1.2800 (December 9th low), 1.2628 (December 5th low) and 1.2500 (key). The resistances, on the other hand, are beiing watched at 1.3000 (key), .3387 (January 19th low) and 1.3799 (January 8th low).
Given the rebound in the stocks in the last 24 hours, after the comments by the US President Barack Obama and the Fed President, Ben Bernanke, the selling of safe havens has returned. Bernanke said that the troubled banks should associate with the State without nationalization, which brought some peace to the credit sector. This way, the Euro is advancing 0.40% against the Dollar at the beginning of the session.
Meanwhile, the 60-minute Relative Strength Index (RSI) is at 63 points, after being overbought. The average volatility per hour is 180 pips, with the price between the medium and upper channel. Checking the daily graphics, we see that the current price is under the 38.20% (1.3077) and over the 50.00% (1.2160) Fibonacci retracement lines.
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