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MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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EUR/USD: Pushing Higher Through the 200-Day Moving Average

EUR/USD continues to move higher despite deep overbought conditions. The resistance implied by the 200-day moving average has been breached. The next resistance is the 15 March low (1.3004). Support is at 1.2755 (11/09/2012 low).

The lack of base formation or sell-off suggests that the current strength in EUR is a rebound within an underlying downtrend. Given the current overbought conditions, we are waiting for signs of weakness to initiate a short EUR position.

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