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07.06.2012 05:28 PM
EUR/USD Correction For June 07/2012

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This morning the ECB left interest rates in the eurozone unchanged at 1%, as it was expected. This was taken optimistically and the euro managed to break the resistance 1.2583; presently it is trading above this level on the 4H charts. The pair is expected  to rise towards 1.2635 and 1.2675 second weekly resistance. We recommend sell-deals at both levels with objectives seen at 1.2535 (Pivot Point). If the uptrend line is broken, it s recommended to sell up to 1.2400. Stop loss is to be placed above 1.2675.

We expect the formation of the second corrective wave. Then the uptrend will resume towards our medium-term target 1.3100

If you need a personal consultation, adress me via e-mail: gerardo.porras@analytics.instaforex.com

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