Forex4you - Analytics

    Forex4you

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    EUR/USD: moving higher within range

       
    EUR/USD has moved higher, breaking above the key 1.0832 highs on its way up to my target at 1.0940.

    Please note I am now revising down my target to 1.0900 because the 50-day MA is situated there or and is expected to provided formidable resistance. Price action has already moved close to 1.0900 and been repulsed and any investors already in a trade may wish to close out their positions now.

    A clear break above support and resistance at 1.0940, including a 20-point margin, so above 1.0960, would probably confirm an even stronger extension higher up to 1.1030.

    A clean break above the 1.1030 highs, confirmed by a move above 1.1055, would probably target 1.1112.

    Risks remain to the downside, with a break below the 1.0520 range lows probably confirming a move down to the S1 monthly pivot at 1.0370.
    EURUSD24

       
    EUR/USD has moved higher, breaking above the key 1.0832 highs on its way up to my target at 1.0940.

    Please note I am now revising down my target to 1.0900 because the 50-day MA is situated there or and is expected to provided formidable resistance. Price action has already moved close to 1.0900 and been repulsed and any investors already in a trade may wish to close out their positions now.

    A clear break above support and resistance at 1.0940, including a 20-point margin, so above 1.0960, would probably confirm an even stronger extension higher up to 1.1030.

    A clean break above the 1.1030 highs, confirmed by a move above 1.1055, would probably target 1.1112.

    Risks remain to the downside, with a break below the 1.0520 range lows probably confirming a move down to the S1 monthly pivot at 1.0370.
    EURUSD24


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