Daily Technical Stategist EURUSD 03 09 12

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EURUSD: Having continued to maintain its recovery strength, EUR looks to build up on further gains in the new week.

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1 Monday, 03th of Sept, 2012 DAILY TECHNICAL STRATEGIST EURUSD EURUSD: Bull Pressure Sets Up For 1.2672/1.2748 Levels. EURUSD: EURUSD: Having continued to maintain its recovery strength, EUR looks to build up on further gains in the new week. As long as it holds and trades above the 1.2442 level, the risk is for it to recapture the 1.2634/72 levels. A breach will aim at the 1.2748 level where a breather may occur and turn the pair back lower. However, if this fails to occur, expect the pair to strengthen further towards the 1.2824 level. Its weekly RSI is bullish and pointing higher supporting this view. The alternative scenario will be for the pair to return to the 1.2442 level. A reversal of roles as support is likely here but if that fails to occur the pair could weaken further towards the 1.2239 level. A clearance of here will set the stage for a move lower towards the 1.2132/17 levels. Further down, support stands at the 1.2040 level. All in all, EUR continues to face upside recovery threats. To read the full version of this 7 model currency analysis click here FXT Technical Strategist Plus FXTechstrategy Team info@fxtechstrategy.com www.FXTechstrategy.com Providing Balanced Independent Research

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2 This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. Click here for full disclaimer

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