Tuesday, June 22, 2010

EUR/USD: back under pressure


Failure to regain the 1.2300 level, and previous hourly candle with a reversal doji has put Euro back under pressure, and Wall Street falling ads to the bias. Hourly indicators give no clear cue at this point, mostly flat under their mid lines, while pair still needs to break under 1.2240 to confirm a fall: under the level, stops loses should be gathered, and pair likely to quickly accelerate towards strong 1.2200 static support area. 

Market has been moving with stocks that tend to fall late US session, so movement could be delayed a bit, probably near London close.  

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