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Currencies Outlook

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Currencies Outlook

Post by LQD Markets on Tue Oct 08, 2013 10:17 am


EUR/USD

Summary
Target Level 1.3104
Target Period 11 days
Stop Level 1.35685

Analysis
Channel Up identified at 26-Sep-23:00 GMT+1. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.31 within the next 11 days.

Resistance Levels


Support Levels
(A) 1.31045 Last support turning point of Channel Up.


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EUR/USD retreats from peaks

Markets are tilted to the risk-off trade on Tuesday amidst increasing concerns regarding the US government shutdown and the debt ceiling negotiations. Data wise, the most relevant release will be German Factory Orders, expected to have expanded at a monthly pace of 1.2% in August.
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LQD Markets

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