Bad news for my Euro falling theory: you know that Euro tend to strengthen at this time of the year, because is typically when European financial firms repatriate their overseas investments ahead of the year end? It is, so keep that in mind. Anyway, and taking a look at the 4 hours charts, pair is falling quickly in the last hour or so, supported by gold that is slightly negative today. Approaching to yesterday’s low at 1.4840 area, that’s our first support level for next hours, followed by strong 1.4800/10 level. Under that, pair has an ascendant daily trend line around 1.4750, so that’s the level to watch for longer term definitions. With flat indicators and under 20 SMA still with bearish slope, upside likely remain limited, with resistances today at 1.4890, 1.4930 and above the 1.4960/70 zone.
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