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Atirox.com - Daily Analysis
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[QUOTE="andy.atx, post: 183014, member: 58758"] [SIZE=7][B]EUR / USD: TECHNICAL ANALYSIS 07/08/20[/B][/SIZE] [URL='https://atirox.com/wp-content/uploads/EURUSDH4080722020.png'][IMG]https://atirox.com/wp-content/uploads/EURUSDH4080722020.png[/IMG][/URL] [B]Current trend[/B] On a 4-hour chart, the instrument is trading below the middle line of Bollinger Bands suggesting bearish momentum. The first strong support area for the pair is located at 1.12647-1.12584. The breakdown of the lower border will be a signal of the downward trend resumption and give a prospect of decline to the area of 1.12305-1.12253. [B]Alternative scenario[/B] If the "bulls" manage to raise the rate above the level of 1.12821, the correction can continue to the area of 1.12915-1.12980. One may speak about upward movement continuation after the price consolidates above the resistance level of 1.13064. In this case, the buyers will aim for the 1.13220-1.13452 area. [B]Technical indicators[/B] Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are diverging on the background of bullish momentum. MACD volumes are decreasing in the positive zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. [B]Support and resistance[/B] Support levels: 1.12610, 1.12305, 1.12000. Resistance levels: 1.12915, 1.13220, 1.13452. [B]Trading recommendations[/B] Short positions can be opened below the level of 1.12600 with the target at around 1.12305 and stop-loss at 1.12695. Long positions can be opened above the level of1.13064 with the target at around 1.13220-1.13350 and stop-loss at 1.12968. [/QUOTE]
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