Tuesday September 27, 2005 - 09:48:35 GMT
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FXstreet.com - www.fxstreet.com
Forex Morning Meeting - European Session Report
Good morning everyone from FXstreet.com. Crude Oil gained some ground during yesterday’s session to close around $65.50. Meanwhile, DJIA index closed around 10.440.
Forex Technicals at a glance: The Eur/Usd today
Pair is at new lows every passing day, confirming its bearish momentum. Rumours of Asian Central Banks bidding the pair from below 1.20 have halted the move, though any rally is likely to be short-lived. Starting from 1.2070 and up to 1.2165, pair will be facing very tough resistances, and only a break of all of them could lead to think the market is ready for a trend reversal (which I personally do not think). Take a look at intraday indicators, when they get out of the current oversold condition they are likely to anticipate the next wave of euro selling. Mid-term 1.18 target remains intact for now.
None at this moment.
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