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Old 30-12-2013, 13:39
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Default Re: Market news and trade recommendations by FBS

BoA: EUR/USD will make a top

Analysts at Bank of America Merrill Lynch have noticed that since 2008 EUR/USD was reversing down near the long-term resistance after completing a 3-legged advance from the previous cyclical low. This time such low is at $1.2041 (July 2012 low).

So, the specialists are looking for a top and turn down. Targets lie at $1.2745 (March 2013 low) and $1.2173.


Chart. Weekly EUR/USD
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