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novvoll12
Aug 21, 2015 12:36 PM

EURUSD 1.1289: – Potential to test the 200 day moving average  Long

EURO / U.S. DOLLARICE

Description

EURUSD staged a strong rally following the triangle breakout to retrace 76.4% of the 1.1436/1.0807 fall. The strong momentum favors further strength towards the 200 day moving average currently at 1.1334 next. The immediate support levels are 1.1216/1.1214/1.1189/1.1151 which should contain a potential pullback ahead of renewed push towards the 200 day moving average. However, a break below the 1.1151 area would caution for a deeper setback then.
Outlook:
Short term: bullish
Long term: neutral
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