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EURUSD Daily Forecast: July 30

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07/29/2010 09:38

EURUSD Forecast:
The EURUSD finally made a clear break above 1.3000 resistance yesterday, topped at 1.3106 but closed a little bit lower at 1.03075. This fact could trigger further upside pressure testing 1.3213/70 region before testing 1.3340. However, as you can see on my daily chart below, we have a trendline resistance which is located around 1.3120 that need to be broken to the upside before continue the bullish pressure. Immediate support at 1.3045/20 region. Break below that area could lead us into neutral zone in nearest term testing 1.2950/30 support area but overall we are still in strong upside phase and I still prefer buy on dips.

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History

07/29/2010
Daily Forecast for Crosses: July 30
07/29/2010
GBPUSD Daily Forecast: July 30
07/29/2010
USDJPY Daily Forecast: July 30
07/29/2010
USDCHF Daily Forecast: July 30
07/29/2010
EUR/USD Daily Review 29 Jul 10

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