Welcome to our 39th. edition of Currency Corner. In Today's edition we be focusing on the daily time frame of the EUR/USD. The EUR/USD may be setting up for a retracement down to the 40 day average which resides at 1.2945 as bearish divergence has formed from the most recent high of 1.3232 to the January 23rd. high of 1.3050. Moreover, the Timing Oscillator has traveled through the 90 sell zone illuminating Tuesday's price bar red supporting a near term decline. A piercing, however, of the January 27th. high will keep the bullish posture of the market intact with the December 2nd. pivot high of 1.3547 as the next upside objective. Momentum continues to decline suggesting a near term pull back may be on the horizon | DailyFX Forum visitors can sign up for our FREE Live Interactive Webinars and Live Trading Room at FXReturn.com. Please click the following link to view our research:Currency Corner Created with Camtasia Studio 5
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