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Market View

EURUSD Daily Technical View

Monday, January 23, 2017 4:18 AM GMT

Today is very poor about news but let us see below what we are expecting: 


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Technical View

Reviewing the daily timeframe, EURUSD is on uptrend as price remains above 20 EMA and continues doing Higher Highs and Higher Lows. However, the potential rising wedge (white trendlines) needs our attention as price stopped below the upper trendline.  Major supports are the 20 EMA, the lower wedge’s trendline as well as the horizontal line on 1.0634. Major resistances are the upper wedge’s trendline and the zone on 1.082 – 1.086.



(EMA = Exponential Moving Average, SMA= Simple Moving Average, 20 EMA=Yellow, 200SMA= Blue)

Heading lower on hourly timeframe, the trend obviously is upwards and prices are consolidating below the upper wedge’s trendline. Minor support is on 1.0717 while the next important support is on the zone 1.069 – 1.0675. Those levels may offer potential buying opportunities. However, we need to take in consideration our view on daily timeframe too.

EURUSD hourly


(EMA = Exponential Moving Average, SMA= Simple Moving Average, 20 EMA=Yellow, 200SMA= Blue)

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