Friday, 11 January 2013

EUR/USD Technicals – Largest Rally in 4 months push price above 50% Fib

See more HOT pictures


More pictures at http://daily20pips.blogspot.com/2013/01/klaudia-el-dursi-is-stunning-hot-beyond.html
Following ECB's decision to keep rates flat, Draghi went to the press conference claiming that Eurozone is on the road to recovery in 2013. According to him, "positive contagion" is pulling Eurozone out of the crisis, and significant improvements in market conditions will be seen via a "medium-term perspective". Whether Draghi's words can be believed doesn't change the fact that ECB will most likely not cut rate anytime soon, sending EUR/USD higher. Currently we're trading back into the Dec '12 range sitting above 1.315. Default settings Stochastic indicator also hint at a bullish reversal with readings moving back from Oversold region.

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