EURUSD
The attempts to break through 1.2480 failed twice but good support was established at 1.2440 which we are expecting to hold and encourage the Euro to push the higher limits again. The daily momentum remains highly bullish while the hourly is slightly bearish due the moderate decline in the Asian session. Support is formed by 1.2440, 1.2415 and 1.2380 lower. Resistance is formed in the 1.2470-1.2480 area followed by 1.2590 higher. Current exchange rate is 1.2452
Trading strategies:
Long in th 1.2440 area, stop below 1.2415, objectives at and above 1.2480.
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