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Forex technical analysis: EURUSD seeing some follow through buying

Working toward next targets.

On Friday, I posted a video which talked of the 1.1214-18 level as being key ( CLICK HERE to view the video).

Earlier today we moved above that area and we have seen increased upside momentum. The price took out the Thursday and Friday highs.

What next?

As outlined earlier, the next minimum hurdle is to get above the 38.2% at the 1.12437. The 100 hour MA is up next at 1.1251. You can add the downward sloping trend line at 1.1257. Let's face it, the pair this month been more bearish than bullish. The more bullish over the last few days is the pair bottomed nicely against a trend line on Thursday and the price is back above the 1.1214-18 level.

Rome was not built in a day, but the EURUSD is showing some signs of life.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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