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#1 03-09-2018 11:28:02

johnedward
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From: Paris - France
Registered: 21-12-2009
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EUR/USD: the euro is encountering solid resistance, but...

EUR/USD: the euro is encountering solid resistance, but any declines should remain limited (Commerzbank)


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Commerzbank notes that the EUR/USD has encountered strong resistance on the forex.

"On Friday, the EUR/USD continued to decline due to resistance offered in the 1.1745/50 area and the recent high of 1.1790.

They should continue to act as a solid short-term barrier.

A recovery above this would trigger a move towards 1.1853 and the 55-week MA at 1.1917.

A first support level is at 1.1541 (20-day MA). Short-term declines should be limited to the 1.1560/20 zone.
"


"Anything worth having is worth going for - all the way." - J.R. Ewing

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