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EUR/USD May Break up Resistance

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There’s a tendency for the bulls to break the resistance level up at $1.18, provided the bulls gather enough momentum; the resistance levels at $1.20 and $1.22 may be reached. In the event the resistance level at $1.18 is defended by the bears, the purchase price may turn downside and break the support degree down at $1.16 which may extend to $1.15 and $1.14

EUR/USD Market
Key Levels:
Resistance amounts: $1.18, $1.20, $1.22
Support levels: $1.16, $1.15, $1.14

EURUSD Trend that is long-term The money pair is trading inside the product range of resistance level at $1.18 and the support level at $1.16. The trend that is ranging the EURUSD market commences on 31 July, when the bullish momentum pushed up the pair to test the opposition level at $1.18. The just mentioned resistance level holds the price and it bounces off to test the help degree at $1.16 level. The purchase price has tested the support level at $1.16 twice, it is testing the resistance level time that is third the moment. There exists a tendency for the bulls to break the resistance level up at $1.18, supplied the bulls gather enough momentum; the opposition levels at $1.20 and $1.22 may be reached.

The price may turn downside and break the support level down at $1.16 which may extend to $1.15 and $1.14 in case the resistance degree at $1.18 is defended by the bears. The pricing is above the 9 periods EMA and 21 durations EMA while the power that is general period 14 reaches $1.18 and the alert line coping with north suggests purchase signal.

EURUSD is regarding the movement that is ranging. The market for more than three weeks. The price increases to the opposition at $1.18 and the bulls lose momentum, unable to break the particular level up and the bears’ pressure is equally weak unable to penetrate support degree at $1.16, this caused the ranging of the purchase price.

It will be feasible for a breakout that is bullish $1.18 once the strength that is general period 14 is pointing up at 60 levels. It shall be advisable to position Buy Stop purchase at $1.19304, just take Profit at $1.22004 and Stop Loss at $1.17592.

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Shiomi Saito

Shiomi Saito is a well known finance expert. She has served over 20 years in the finance Industry across Europe and Asia. In the past, she has held managerial positions in reputable global rating agencies and multinational banks. She has also managed regional teams across Europe and Asia which focused on analytics related to both corporate and financial Institutions. She is experienced in building index products for investment banks and multinational banks, risk management and analytics, key risk drivers including FX, geopolitical credit as well as macro over a wide range of sectors. She is also a finance writer and has written extensively for larger audiences. She is currently focused on the development of financial markets, in Currencies, commodities, alternative asset classes and global equities. She has been an author with MetaNews since Dec, 2013.
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