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2/2/2016 2:35:14 AM

EURUSD climbs within an ascending price channel - Technical Analysis - 02-02-2016



EURUSD rose in the short-term trading after the pivotal support of 1.0815 held on, with the positive support from the SMA50 in the intraday levels. The pair's latest rise comes within an ascending price channel that limits its movements as shown in the attached chart, and a slight dip can be noticed that led to the support of that channel as a way to regain positive momentum that would help it rise again.

Therefore, as long as the pair is confined within this ascending price channel, we expect more gains to come, targeting the pivotal resistance of 1.0965.


Target
Risk


Support
Resistance


Trend Bullish

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