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EUR/USD Slides from Falling Speedline after Positive Chicago PMI data
Speedline, consolidation: EUR/USD stalled at a falling speedline that goes back to May’s highs. As noted in previous EUR/USD updates on FXTimes, 1.3050 was also a resistance pivot, especially ahead of the ECB and US NFP event risks next week. The market is in consolidation mode, so choppiness within the consolidation structure was expected. We’re talking about consolidation between the 2013-low of 1.2744 and May’s high of 1.3240. It started to move down from 1.3050 even before the US session. The Chicago PMI rose to 58.3, the highest since March 2012 and also beating forecast of 50.3, according to ... (full story)
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- May 31, 2013 11:15am May 31, 2013 11:15am
- alues
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- May 31, 2013 11:44am May 31, 2013 11:44am
- piptastic
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Anything can happen in FOREX. There's no 100% sure
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- May 31, 2013 11:49am May 31, 2013 11:49am
- Forexguru Ng
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- Jumper1979
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