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    BRAND MARKET ANALYSIS AND NEWS EURUSD Update, Bullish Symmetrical Triangle Market News

    EURUSD, Daily

    Friday’s NFP report should support a rate hike in March; even though the NFP missed expectations unemployment is now below 4.9% and the average hourly earnings have risen more than expected. However, for the moment, the market is not pricing in any rate hike and this could lead to a higher EUR in the short term.

    Technically, the EURUSD over the last 3 months is in an uptrend since creating a series of lower bottoms and higher tops from the December 1.0520 lows. I spot a bullish symmetrical triangle (continuation pattern) December 29th High (1.0990) – February 1st low (1.0814), and current price is above its long term Moving Average.

    My conclusion for the EURUSD pair supports long positions above 1.1060 for targets within the 1.1300 – 1.1360 area.

    Feb 8 SRL EURUSD V1

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    John Knobel 

    Senior Currency Strategist

    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.


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