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3/8/2016 2:58:19 AM

EURUSD gathers momentum - Technical Analysis - 08-03-2016



EURUSD returned higher yesterday, attacking the important resistance of 1.102 5 as the pair remains buoyed by exiting that descending price channel that limited its previous short-term movements, with ongoing positive pressure from the SMA for the last 50 days period, while noting the pair has stalled a bit at that important resistance as it tries to gather positive momentum that'd propel it higher, while venting off that overbought saturation apparent in relative power indicators.

Therefore we reaffirm our positive outlook for the pair, especially if it breached the resistance of 1.1025, targeting thereafter the resistance of 1.1110 as a price target for exiting that price channel.


Target
Risk


Support
Resistance


Trend Bullish

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