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4/20/2016 3:28:13 AM

EURUSD racks up more gains - Technical Analysis - 20-04-2016



EURUSD rose in the intraday levels following a streak of similar rises, after the pair leaned on the important support of 1.1250, which represents the ratio 61.8% of Fibonacci retracement levels for a descending wave in the medium term (from 1.1713 to 1.0500), gather positive momentum that helped it rise again, with ongoing positive support from the SMA for the last 50 days period, combined with dominance from the upward short-term trend, and an influx of positive signals from relative power indicators.

Therefore we expect more gains to come for the pair, targeting the pivotal resistance of 1.1454, which represents the ratio 78.6% of the same retracement levels mentioned earlier.


Target
Risk


Support
Resistance


Trend Bullish

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