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EUR/USD: 1.1335 is key break-up point - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted the EUR/USD pair continued trading within its daily triangle, advancing during Asian hours up to 1.1283, where it met speculative selling interest, and retreated down to 1.1210 during the American morning.

    Key Quotes:

    "Nevertheless, the pair is ending the day with some gains, although with no clear directional strength according to technical readings, given that the 1 hour chart shows that the price is a few pips below a bearish 20 SMA, whilst the technical indicators head nowhere in negative territory."

    "In the 4 hours chart, the price is stuck within its moving averages, whilst the technical indicators stand flat around their mid-lines. Additional gains beyond 1.1285 should lead to a test of 1.1335, a strong static resistance level, but it will take a clear break above this last to confirm a steadier upward continuation."
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