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EURUSD tests the support – Analysis - 16-03-2018
The EURUSD pair tests the key support 1.2304 and keeps its stability above it until now, accompanied by witnessing clear oversold signals through stochastic, to form positive factor that we are waiting to assist to protect the mentioned support and rebound bullishly to resume the main bullish trend.
Therefore, we will keep our positive overview for the upcoming period conditioned by the price stability above 1.2304, noting that we are waiting to visit 1.2536 level as a next main station.
Expected trading range for today is between 1.2240 support and 1.2400 resistance.
Expected trend for today: Bullish
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The EURUSD pair ends today’s trading with clear negativity to test the key support 1.2304, and as we mentioned in our recent reports, the price needs to hold above this level to keep the bullish trend scenario valid for the upcoming period, as breaking it will push the price to visit 1.2160 areas mainly, while the next positive target is located at 1.2536.
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