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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 - Persistent Selling Pressures in Place

EUR/USD has made new lows, confirming persistent short-term selling pressures. Hourly supports lies at 1.2352 (intraday low) and 1.2280. Hourly resistances for a short-term countertrend move can now be found at 1.2303 and 1.2452 (see also the declining trendline).

In the longer term, EUR/USD is in a downtrend since May 2014. The break of the strong support area between 1.2755 (09/07/2013 low) and 1.2662 (13/11/2012 low) calls for a decline towards the strong support at 1.2043 (24/07/2012 low). A key resistance stands at 1.2600 (19/11/2014 high).

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