After falling like a rock, there seems to be few courageous buyers willing to catch a falling knife in the early Asian session. EUR/USD has fractionally broken through 1.29 only to stabilize right above it.
Despite the fall may be interpreted as an opportunity to buy on dips after the excessive 160+ pips down-gap, looks like big players are delaying the timing of any counter-trend entry, as the proposed deposit tax in Cyprus set a 'dark' precedent for the rest of peripheral countries within the Eurozone, thus some may find a better option wait until the dust settles.Continue Reading....
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