EUR/USD Morning Technical Report 27/12/2013
ecPulse
2013-12-27 06:53AM UTC
The EURUSD pair has inclined during the Asian session trading above the middle line of Bollinger bands-valued at 1.3698- once again. This incline is gradually taking RSI 14 towards overbought regions and that warns of a reversal. The sudden contrarian between momentum indicator and trend indicators in addition to trading above 1.3715 forces us to close the short positions we took this week and standing aside until we witness the weekly closing. Of note, coming back below 1.3700 may bring the bearish picture back into focus.
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