EUR/USD has broken the hourly resistance areabetween 1.2699 (02/10/2014 high) and 1.2715(see also the declining channel), suggesting anincreasing buying interest. Other hourlyresistances can be found at 1.2816 and 1.2901.An initial support now lies at 1.2692 (intradayhigh), while an hourly support is at 1.2584(07/10/2014 low).
In the longer term, EUR/USD is in a successionof lower highs and lower lows since May 2014.The break of the strong support area between1.2755 (09/07/2013 low) and 1.2662 (13/11/2012low) opens the way for a decline towards thestrong support at 1.2043 (24/07/2012 low).Intermediate supports are given by 1.2500(psychological support) and 1.2466 (28/08/2012low).
The remaining of our long position has beenstopped.
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