EUR/USD: greenback consolidating gains |
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I take a look at the EUR/USD chart, and I can only see more bearish pressure there, despite we have not yet a technical confirmation of the continuation. Still, this 4 hours charts show us pair has entered a consolidation stage, with greenback holding on its gains. I have a small continuation triangle there, with 20 SMA strongly bearish above current price and flat indicators. Pair needs to clearly break that strong congestion support zone between 1.4680/1.4700 to extend the downside. Next supports lie at 1.4620 and ahead 1.4580. On the contrary, only above 1.4780 I see chances of further upside strength, with next resistances at 1.4830 and 1.4860.
Keep an eye on gold, is at 1122, very close to yesterday’s low of 1116.
Filed under: Forex Advisor
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