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Intraday Technical Analysis – December 21, 2007

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Intraday Technical Analysis – December 21, 2007
Friday, December 21st, 2007 @ 7:36 am by Bogdan Parascanu

Thursday’s Dec 20th midday analysis -13.00 GMT

EurUsd failling to print a new low in yesterday’s US session gave bulls enough reason to push the pair higher and so it touched the 1.4400 intraday resistance and after that we saw a small retracement towards the 50.0 Fibonacci of yesterday’s trading renage. We may a second attempt at the 1.4400 level in today’s remaining trading hours.

eur-dec-21-07-noon.gif

GbpUsd traded inside Thursday’s range, and after it didn’t manage to break a new low we are trading just under the 1.9900 resistance and chances are the pair will head higher in the US session.

gbp-dec-21-07-noon.gif

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