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EUR/USD market traders screaming “Bottom”

FXStreet (Guatemala) - EUR/USD is trading at 1.2669, up 0.01% on the day, having posted a daily high at 1.2672 and low at 1.2668.

EUR/USD found space towards 1.27 handle again but that was short lived and has since resumed territory to the downside after stocks overnight fuelled the rise in the EUR and not Draghi. Valeria Bednarik, chief analyst at FXStreet earlier said, “Market players are still screaming bottom, yet the final word will come from US employment figures early Friday. If the data is good, dollar may regain adepts, yet a negative number may confirm an upward continuation for the days to come”. Moving towards the technically picture here, in the 4 hours chart technical, she explained readings present a strong upward momentum, as price advances above 20 SM first time since mid September. “Some steady gains above 1.2700 should see price extending p to 1.2745 in the short term, while risk to the downside increases if price eases again below 1.2650 price zone”.

Support levels: 1.2650 1.2620 1.2570

Resistance levels: 1.2700 1.2745 1.2780

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