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EURUSD awaits the confirmation – Analysis - 06-03-2018
The EURUSD pair continues to fluctuate between the key levels represented by 1.2304 support and the resistance line that rises now to 1.2420, thus, we will continue with our neutrality until the price succeeds to breach one of the mentioned levels, noting that stochastic reaches the overbought areas now to contradict the EMA50 positivity.
We remind you that breaking the mentioned support will push the price to visit 38.2% Fibonacci correction level at 1.2160 again, while breaching 1.2420 will push the price back to the main bullish channel and target areas that start at 1.2536 mainly.
Expected trading range for today is between 1.2250 support and 1.2430 resistance.
Expected trend for today: Depends on the above mentioned levels
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MoreEnd of day analysis for EURUSD 05-03-2018
The EURUSD pair still stuck between the trend keys represented by 1.2304 support and 1.2410 resistance, which keeps our neutrality valid until now, reminding you that breaching one of these levels is required to determine the next targets clearly, as breaking the support will push the price towards 1.2160 again, while breaching the resistance will lead the pair to regain the main bullish trend that its targets begin at 1.2536.
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