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26 Feb 2013
Forex: EUR/USD jumps off to 1.3100 and higher
The EUR/USD is extending its bounce after going to as low as 1.3018 in early European trade. Having fully retraced daily losses, the pair is now moving higher and quoting above the 1.3100 mark as investors correct yesterday's selloff and price in expectations ahead of Fed Bernanke's speech due at 15:00 GMT.
Italian regulators are in talks with the stock exchange and thinking of banning short selling temporarily to keep markets from high volatility during these uncertain times post-elections. Such decision could drive the EUR/USD lower.
"I think today the pair may start reversing and break the previous descending wave; the first target is at 1.3190. Later, in my opinion, the price may start a new correction", wrote Roboforex.com analyst Igor Sayadov, pointing to two possible future scenarios: the pair either continues growing up, or starts forming a new consolidation channel to break its minimums.
Italian regulators are in talks with the stock exchange and thinking of banning short selling temporarily to keep markets from high volatility during these uncertain times post-elections. Such decision could drive the EUR/USD lower.
"I think today the pair may start reversing and break the previous descending wave; the first target is at 1.3190. Later, in my opinion, the price may start a new correction", wrote Roboforex.com analyst Igor Sayadov, pointing to two possible future scenarios: the pair either continues growing up, or starts forming a new consolidation channel to break its minimums.