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Technical Analysis
Daily Technical Analysis for Majors by Dukascopy
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[QUOTE="KristinaDC, post: 139808, member: 30616"] [B]EUR/USD prepares to hit 1.1940[/B] [ATTACH=full]12006[/ATTACH] In line with expectations, in first half of previous trading session the pair slipped to the bottom and, after reaching at the 200-hour SMA that was located slightly above the lower trend-line of a junior ascending channel, resumed the surge. By this morning, the currency rate has crossed practically all notable resistance levels. The only area left untested is located at 1.1936. Nevertheless, it is unlikely to stop the pair from reaching the upper boundary of a senior descending channel near 1.1940 by the end of the day. But even in case bears take the lead, for instance, after release of better than expected information on the US ISM Manufacturing PMI, combined support level formed mainly by the 100-hour SMA but also by the 61.8% Fibonacci retracement level is expected to neutralize the plunge. [ATTACH=full]12007[/ATTACH] [B]GBP/USD slowly heads to weekly R3[/B] [ATTACH=full]12008[/ATTACH] In accordance with expectations, in first half of previous trading session the cable made a minor pull back to 1.3440 and then resumed the surge. An existence of two barriers located at the 1.3500 and 1.3530 levels was confirmed, while the pair continued to climb to the top yesterday. As majority of pending orders both in 50 and 100 pip range are set to buy, the currency rate is expected to continue moving upwards today as well. The bullish scenario is also backed up by fundamental reasons, such optimism related to progress made on Brexit. However, there is a need to take into account that alleged resistance barriers located at the 1.3560, 1.3580 and 1.3590 might either halt or event slightly turnaround the pair, especially if it matches with release of the US ISM Manufacturing PMI. [ATTACH=full]12009[/ATTACH] [/QUOTE]
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