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EUR/USD Technicals – Potential Bullish Breakout Above 1.38
Yesterday's analysis suggested that there was a slight tint of bearish bias, but concluded that the risk may not be worth it given the circumstances. In some ways we are vindicated as EUR/USD indeed rally, but even then the degree of bullishness that came forth was surprising. As the only economic news release was US Pending Home Sales which came in much lesser than expected (0.2% vs 1.1% expected, while November numbers were revised lower from -0.6% to -1.2%), one can simply put 2 and 2 together and conclude that this weaker than expected number decrease the chances of further QE tapering in early 2014, hence ... (full story)
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- Dec 30, 2013 11:44pm Dec 30, 2013 11:44pm
- khol_hands
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