Technical analysis:
EUR/USD has been trading sideways at the price of 1.1115. I do expect further upside continuation due to successful test of support at 1.1100 and the bull flag on the hourly time-frame. Eventual upward targets are set at the price of 1.1180 and 1.1238.Watch for buying opportunities
The breakout of the mini downward Pitchfork channel was the key for the long bias.
Stochastic oscillator is showing oversold condiiton, which is indication that selling looks risky and buying very attractive.
Resitance levels are set at the price of 1.1153and 1.1180
Major support level is set at the price of 1.1095
The material has been provided by InstaForex Company – www.instaforex.com
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