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    Forex News from New Forex: Technical analysis of EUR/USD

    On Tuesday the pair trades with some price rise remaining within the support at 1.1308 and resistance at 1.1374. According to hints made my the Fed’s Chair Jannet Yellen, the interest rate hike would be appropriate only in case of a stabilized economic situation. After the release of neutral data in retail sector in Eurozone, industrial orders and employment data in May, we may forecast a slight strengthening of the single currency in the short-term and its movement within 1.1350-1.1420.

    In a 4-hour timeframe exponential moving averages EMA20 and EMA55 crossed upwards and increase, the MACD-histogram entered high into the positive zone and is currently declining sending signals to sell. The RSI fixed above its central line after the reverse. The oscillator Stochastic foreshows the market consolidation at 1.13-1.14.

    Technical analysis of EUR/USD

    NewForex Analyst

    Luigi Campo

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