Thursday, July 28, 2011

Citigroup: comments on EUR/USD

Analysts at Citigroup claim that the euro bears didn’t manage to trigger stops below $1.4320 and EUR/USD experienced a short-covering rally to the levels around $1.4360.

The specialists think that if the pair breaks down below $1.4320, it will find support in the $1.4310 area where 55-day and 100-day MA converge and a base of the Ichimoku Cloud is found. 

h4 eurusd 13-55  

Chart. H4 EUR/USD

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