The EUR/USD prices rose yesterday and reached the main resistance level of 1.2585 which corresponds to the Ichimuku resistance level as we see on the 4 hours chart , also to the upward trend of the upward channel , however the prices did not succeed in breaching up the 1.2585 level and retreated.
We expect at the beginning of this day that the EUR/USD prices will retreat towards the 1.2533 level and should it breach down this level, the prices will decrease further and the next target would be towards the 1.2503 level then to the 1.2464 level.
We also draw the attention of our dear clients to follow the news of today especially the Spain bonds auction and the unemployment rate in U.S
So we advice you to monitor the main resistance level of 1.2585 and should it breach up this level, the next target would be towards the 1.2640-1.2667 area .
Nice trades all
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