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3/14/2016 2:59:48 AM

EURUSD readies to rise - Technical Analysis - 14-03-2016



EURUSD engaged in high volatility lately, leading the pair down to lean on the support of 1.1099, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 1.1375 to 1.0821), lending it positive momentum that helped it bounce higher, standing at the verge of the resistance of 1.1164, representing the ratio 61.8% as a way to stimulate further momentum that'd help the pair keep up higher, with an influx of positive signals from relative power indicators.

Therefore we expect more gains to come for the pair, targeting the resistance of 1.1245, representing the ratio 76.4% of the same retracement levels.


Target
Risk


Support
Resistance


Trend Bullish

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