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27.06.201109:59 Forex Analysis & Reviews: EUR/USD Intraday Technical analysis

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 27.06.2011 analysis
 

The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.4070 suggesting a rebound. However a break of these levels would entail a return to the lower limit of the channel to 1.3910.

According to previous events, the market indicates a bullish opportunity on the levels of 1.4070 with a 1st objective of 1.4180, then 1.4220. A break in 1.4040 would invalidate this scenario.

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