EUR Trading Outlook (29-05-2013)
TECHNICALS: The steep short-term downtrend was breached yesterday (see chart) which tells me that downward momentum is starting to weaken. That doesn’t mean we don’t still fall some more but any further losses are likely to be in a more sideways direction. Daily lows at .9580 from last year remain intact and with Sovereign bids reported towards .9550, this supports the sideways trading view. Look to .9750 for solid resistance on rallies.
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