The price has bounced up towards our profit target previously. Now we remain bullish above 119.45 support (Fibonacci retracement, horizontal pullback support, and recent swing low support) for a push up to 120.72 resistance (Fibonacci…
In this video, the Trading Central looks at the currency pair EUR/USD for the February 17th session.
EUR/USD — The EUR/USD has been rebounding for two days. On the intraday 30-min chart, we can see that the EUR/USD pair has crossed above the descending trendline which has been in place for over a week. Meanwhile, intraday technical indicators are bullish and showing a continuation of the rebound. On the upside, we expect immediate resistance at 1.0685 and above that we have 1.0710, which is the previous high. Key support is located at 1.0645, which is currently the 50-period Moving Average.
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