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Morning technical analysis – 3 March 2014
The euro is trading higher against the dollar this morning after gapping lower over the weekend. The flight for safety has seen the dollar strengthen against most currencies over the weekend, although we have seen the euro pare some of these losses already today. The pair opened the week around the 50 fib level, 28 February lows to highs, before edging higher which could in itself be viewed as quite bullish. That said, this may be more likely to be driven by traders appetite for risk in the coming days rather than just following the recent trend. If the pair does continue higher, resistance could be found around ... (full story)