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11 Feb 2013
Forex: EUR/USD below 1.3400 since 13:00 GMT
A fight for the win at the 13:00 GMT options cut sent the EUR/USD to the 1.3400 surrounding area. Right before the scheduled hour, the price dropped quickly to 1.3380, where it has been holding against further downside. The market is digesting the movement as the American money flows enter the game.
The economic calendar is empty. Exception made for the FOMC member Yellen speech at 18:00 GMT.
“I should note that reaching the level of 1.3330 will be enough for the market, but so far the structure of the movement indicates that the price may reach only the level of 1.3340”, wrote Roboforex.com analyst Igor Sayadov, pointing that if the pair forms a five-wave correction, the price may fall down and reach the level of 1.3240.
The economic calendar is empty. Exception made for the FOMC member Yellen speech at 18:00 GMT.
“I should note that reaching the level of 1.3330 will be enough for the market, but so far the structure of the movement indicates that the price may reach only the level of 1.3340”, wrote Roboforex.com analyst Igor Sayadov, pointing that if the pair forms a five-wave correction, the price may fall down and reach the level of 1.3240.