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Old 19-12-2013, 14:07
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Default Re: Market news and trade recommendations by FBS

Technicals for majors

EUR/USD

EUR/USD breached support at $1.3705 on the news that the Fed will taper QE.

The pair fell below 55-period MA and is trading in the area of the100-period one. The lines went from rising to the horizontal state.
The prices are at the lower edge of the Ichimoku Cloud ($1.3666) which is currently providing support. Failure here will be a bearish signal. The bullish Cloud itself has dramatically narrowed.
MACD went to the negative territory. RSI is currently signaling oversold.
Support: $1.3666, $1.3648, $1.3625 and $1.3575

Resistance: $1.3705, $1.3740/50, $1.3790


Chart. H4 EUR/USD

Upcoming events:

EUR - 9:00 GMT - Current Account

EUR - All Day - European Council meeting (banking union discussion)

USD - 13:30 GMT - Unemployment Claims

USD - 15:00 GMT - Existing Home Sales

USD - 15:00 GMT - Philly Fed Manufacturing Index

USD - 15:00 GMT - CB Leading Index
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