Forex4you Technical Analysis 12 Dec 2012
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EUR/USD: Technical Analysis
The up-trend is extending higher but it has reached an important resistance level, and also the 61.8% fibonacci retracement of last week's sell-off, nevertheless there are no reversal signs yet and the short-term trend remains up. The next set of targets higher lie at 1.3075 and then 1.3119, close to the 5th December highs,which may mark an Elliot wave 5 high.
Analysis by: Joaquin Monfort
Forex4you analyst
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