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EUR/USD: Eurodollar has stalled a little this morning

Daily Forex Reports | by Forex4you | Monday, 10 September 2012 13:26 UTC
Eurodollar has stalled a little this morning. The current level lies close to the monthly pivot, which could mean we are at a reversal point and the exchange rate could roll over here. A break back down below 1.2761 would give a strong confirmation signal, with 1.2700 then in sight. A move above 1.2803, however, could see it push higher to the major multi-month trend-line at 1.2900 where it will probably stop because of resistance.



Written by Forex4you

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