The positive news from both currencies
wrestled its value. The finalization of the deal to save Greece from
its looming debt has created optimism for euro investors. Meanwhile,
the same effect was also achieved after the U.S. elections was
favored by most Americans a few weeks ago. Today, a correction
started at around 1.2970 which paved to the formation of a head and
should. Traders should expect the correction to last until 1.2900
value but will soon rise to continue its upward way.
Take note of the Support level 23.6 which is slight above the 1.2895. Traders can ride this short plunge for
today but don't put your TP far below 1.2895 value because most
probably it won't be hit. The pair is still not been overbought thus
the trend reversal is still nowhere in sight.
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