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Forex Flash: EUR/USD medium-term bearishness prevalent – RBS

By FXstreet.com,  January 10, 2013, 06:05:00 AM EDT

FXstreet.com (Barcelona) - According to Technical Markets Strategist William Moore at RBS, "There is now a medium-term bearish picture developing for the EUR/USD in the hourly charts too; not this pattern that is toying with its neckline around the 1.3015 level - the projected target from the breakout looks to be down to at least 1.2771. The stop loss would need to be above the right hand shoulder at the 1.3137 level, so the risk/return works quite well."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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