Analyzing the Euro
Dollar chart on a weekly time frame, it is clear how pair failed to break below 1.04. This level hold again ( third time ), giving bulls the strength to push the quote higher. Natural target for the upward movement is 1.15. A personalized stochastic
to filter out most of fake signals is now crossing above the oversold area, thus confirming the bullish
idea. However, in order to have a better signal, let's wait to cross above the area.
The analysis is valid for medium / term only.
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