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Currency Majors Technical Perspective
The dollar reached a one-month peak versus the euro at 1.3010, after the FED upgraded its economic outlook past Tuesday as US data improvement extends. Stocks ended the day barely unchanged while gold nose dive again, reaching 1633/oz before bouncing slightly higher. The EUR/USD hourly chart shows price consolidating below 1.3040 with indicators flat below their midlines and 20 SMA heading lower above current price. In the 4 hours chart, indicators are still bearish with no signs of reversing anytime soon: the next logical target comes at 1.2970, past February low, followed then by 1.2930, January 25th daily low. ... (full story)
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