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Ikon Forex"Is it the inevitable Outcome for EUR/USD to have call-back?"

Discussion in 'Forex Discussions' started by ikonforex, Jan 28, 2011.

  1. ikonforex

    ikonforex New Member

    Dec 22, 2010
    Likes Received:
    EUR/USD dropped from the high level above 1.3740 after Tokyo fixed interest rate on Friday, January 28, 2011. Currently, the forex price has declined to nearby 1.3700 and there is risk for short-term forex price to further falling.

    There are analysts to point out that within past 24 hours; EUR/USD did not appear the signals to go up and break the position, on the contrary, it got into the interval between 1.3640 and 1.3750 to have consolidation. The forex price in the previous night fell with pressure after hit the highest 1.3757 for two months.

    The analyst believed that the short-term amount of increase of EUR/USD is too large and the daily chart and hour chart appeared over bought, thus there is need to have call-back.

    At Beijing time 10:07, EUR/USD was 1.3700/02.

    Forex news in bit.ly/iaDHYZ

    Edited By Sarah

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