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Forex4you Technical Analysis 13 December 2012

EUR/USD: Technical Analysis

Eurodollar has been going sideways today with no firm trend in either direction. There may be a double top price pattern visible on the hourly chart, with a neckline at 1.3055 and a downside target at 1.3015. The short-term trend is still up, however, and favours more upside but any bullish potential is capped by resistance form the monthly pivot at 1.3120.

Analysis by: Joaquin Monfort
Forex4you analyst

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