EURUSD: The break, however non sustained, below 1.2740 was a veryimportant message sent by the market confirming that weon a medium term basis will fall below 1.2042. The spikebelow 1.2740 together with the still persisting bulldivergences (stochastic, RSI, RoC and more) does howeverimpose a clear upside threat calling for an overdue upsidereaction. A move above 1.2765 today is expected to triggermore short covering.
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