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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 - Challenging its 2010 Lows

EUR/USD continues to decline. The strong support at 1.2043 has been broken and the one at 1.1877 is challenged. Resistances for a shortterm bounce are given by 1.2007 (intraday high) and 1.2110 (intraday high).

In the longer term, EUR/USD is in a downtrend since May 2014. The strong support area between 1.2043 (24/07/2012 low) and 1.1877 (07/06/2010 low) is challenged. The technical structure favours an eventual break lower. Other key supports can be found at 1.1640 (15/11/2005) and 1.0765 (03/09/2003 low). A key resistance stands at 1.2252 (25/12/2014 high).

Daily Technical Report


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