novvoll12

EURUSD neutral – Bounces off triangle support

FX:EURUSD   Euro Fx/U.S. Dollar
eur
46 0 0
eur
EURUSD             1.1236 – neutral – Bounces off triangle support

EURUSD             is consolidating within a 5-week triangle range. The pair bounced off the 1.1104 support (September 23, 2015 low) through 1.1185 (200 day moving average )
to probe the 20 day moving average currently at 1.1233 which has been capping the last 5 days’ trading. Below 1.1104 would weaken towards 1.1016 (August 18, 2015 low) near the 6-month rising channel support.
However, a decisive break above the 1.1233 area would suggest there is scope for further momentum towards 1.1295 (September 24, 2015 range high) then 1.1323 (61.8% of the 1.1459/1.1104 fall) near term.
Outlook:
Intraday: neutral
Daily: neutral
Weekly: neutral

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