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Daily Analysis for EURUSD, 29.10.2012 October 29, 2012

EURUSD had a bearish momentum last week and slipped below the bullish channel as we see on the four-hour chart. The signals are bearish in a nearest term, especially if the price make a clear break below 1.2890, to test 1.2850/00. The main uptrend expectations are under serious threat, but not yet in a descending pattern. The medium-term prospects enter the neutral zone with key support near 1.2750. The nearest resistance is seen at 1.2950. A clear break above that area could lead the price to neutral commercial field testing 1.2980-1.3000.




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