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EUR/USD Holding Above 1.2350; A Look at Retracement Levels
There’s been an influx of headlines regarding the debate going on in the eurozone on how to deal with the Grexit prospect, the Spanish banking woes, the theme of growth etc. The EUR/USD held above 1.2350 during the 5/31 European session and has corrected back above 1.24 as data from Germany gleamed in comparison with recent “anything” coming out of the eurozone. The market is gearing up for the US session, and the EUR/USD has retraced 23.6% of this weeks swing from 1.2616 to 1.2354. The 1.24 level would be the first level of renewed selling pressure. The RSI has resolved any short-term oversold condition, and ... (full story)
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