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Sign of life for EURUSD

Sign of life for EURUSD

As we mentioned yesterday after 10 days the pair finally shows some sign of life. EURUSD had an impressive trading today, it hit the daily high at 1.0657, above the 100 hour MA. In fact there was a bar where the price closed above the MA for the first time since November 9th. Then the pair hit the daily low at 1.0582 and managed to rebound above the 50h MA. I am very bullish on that with first target at 1.0648

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EURUSD has been trading within a well defined uptrend over the last several months, since breaking out in early 2017. 1.2360 provided support to the pair in early February and now switches to resistance. The pair’s top level was $1.2555, and recent low was 1.2155. Immediate resistance is seen around 1.2350. A clear break above ...