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Eurusd: Maintains Its Bullish Tone.


Guest FXTechstrategy Team

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Guest FXTechstrategy Team

EURUSD: With EUR holding above its broken resistance zone at the 1.2692/1.2748 levels, further upside gain is likely. It now faces the risk of moving higher towards the 1.2839 level where its daily 200 ema is located. A breather may occur and turn the pair back lower at this level but if this fails to occur, expect the pair to strengthen further towards the 1.2900 level. Its daily RSI is bullish and pointing higher supporting this view. The alternative scenario will be for the pair to return to the 1.2692/1.2748 levels where a reversal of roles could occur. Further down, support lies at the 1.2442 level where a violation will expose the 1.2239 level. A clearance of here will set the stage for a move lower towards the 1.2132/17 levels. All in all, EUR continues to face upside recovery threats.

eurusd200000.gif

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  • 3 years later...

The resistance level close to the psychologically key number of 1.5250 held up well before the FOMC release and appears that it may well now have comfortably flipped over to have become support now that the price has broken out of its previous fairly narrow range. Therefore I am comfortable looking for a long trade there today.

gbpusd-h4-riston-capital-ltd.png

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  • 1 month later...
  • 1 month later...

EUR/USD is the most tradable trading currency, it’s also my favorite trading pair. Besides, I get low trading spread for all major currency pairs of Forex from regulated broker TradingBanks. So, I feel much comfort to trade in major currencies. On the other hand, I have a future plan to use others trading instruments.

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  • 4 weeks later...

This is much softer than originally anticipated, so it makes sense that the US dollar would lose quite a bit of strength against the Euro. With this, I believe that this pair continues to go higher and that we are going to reach towards the 1.13 level, and then eventually the 1.15 level after that.

eurusd-h4-riston-capital-ltd-2.png

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  • 2 months later...

Archived

This topic is now archived and is closed to further replies.

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