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    EUR/USD: technical analysis

    EUR/USD: technical analysis

    The main trend on the EUR/USD pair is bullish. There’s a consolidation in progress towards an area between the resistance level at 1.1322 and the 34 Simple Moving Average (SMA). A “Thorn” pattern was formed yesterday. In the short-term we can expect an upward movement to a resistance area between the levels 1.1377- 1.1394, but then the market may start a correction towards a support area between the levels 1.1245- 1.1214.;

    EUR/USD: technical analysis

    We've got a local up trend on the one-hour chart. The price is moving in a range between the resistance level at 1.1322 and the 55 Simple Moving Average (SMA). It's likely that the correction will go on to a support area between the levels 1.1245- 1.1214. Afterwards, the market may continue growing to a resistance area between the levels 1.1377- 1.1394.


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