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Forex: EUR/USD prints new weekly low at 1.2970

EUR/USD is going through some post NY pressure, and after briefly tempering a bearish run coming off a double top around 1.3070 in the past European session, which saw mild bids noted at 1.2980, the pair is making new lows for the week as sellers continue to target the lowest of the year at 1.2966. Earlier upbeat ADP number triggered bear sentiment.

Despite the move, and ahead of the ECB meeting, FXWW founder Sean Lee notes, "similar to yesterday, it’s unlikely that we will see any significant movement during the Asian session." Sean points at the initial support isat Monday’s lows near 1.2960/70 and "30/40 pip rallies are likely to attract sellers so picking the edges of a tight range looks like being the key" he says.

Wall Street closes mixed ahead of ECB rate decision

The US stocks market finished Wednesday mixing red and green numbers as the Dow advanced its second straight record close, the S&P 500 is 24 points from all-time closing high but the Nasdaq declined.
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Forex: EUR/USD falls to 2013 lows and opens the door to further loses

After consolidating loses between 1.2980 and 1.2995, the EUR/USD has finally broken previous lows to trade at 1.2960, minimums since December 11. Below the 1.3000 level, the pair has opened the bearish momentum and the 1.2900 level is also vital to contain, or not, bears.
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