Πέμπτη 5 Μαΐου 2016

Technical Analysis EUR/USD

The pair has almost reached significant support at rising trend line since 25 March. Also it coincides with S2 and 200 EMA on 1hr chart. As such reaction of price at this level should be observed for any possible entry. At the moment the longer term bias is bullish and any confirmation in support would trigger a long position with an eventual target at 1.1600 which presents significant long term resistance. This might be presented tomorrow with the release of the NFP.

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