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EUR/USD trading at session highs at 1.2944/49

FXstreet.com (Barcelona) - The EUR/USD rallied Monday to session highs at 1.2944/49 during European trading, continuing to show some manner of short-term strength despite muted trading.

At the time of writing, the pair is now settling at +0.05% above its opening. The EUR/USD will face resistive measures at 1.2974, then 1.3027, and finally 1.3060. On the decline, a movement below 1.2888 will initiate supports at 1.2855 ahead of 1.2802, notes the Mataf.net analyst team.

According to the ICN.com Technical Analyst Team, “The EUR/USD has steadied below 23.6% correction at 1.2970, despite the intraday positivity and failure to stabilize below key ascending support level. In addition, Linear Regression Indicators are leaning towards negativity and hasn't yet shown the pair making bullish attempts. Therefore, we opt neutrality as best stance in this report as trend throughout the week.”

Commodities Brief – Precious metals trade at intraday highs, gold held below 1400

The price of gold has been consolidating for the past week or so, pushing gradually higher towards 1400.00 (key short-term resistance level) – a break above 1400.00 and the descending resistance for the latest bearish wave should signal a move higher within the overall sideways range (1320.00-1485.00) targeting 1445.00-1448.00 as an initial upside target. There remains a bullish bias towards gold this week and in these moments, the yellow metal is trading at USD $1393.51 per oz. Monday during European trading.
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