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EUR/USD Technical analysis 21 September 2018

2018-09-20 11:02 pm | Resource: Technical Analysis | No Views : 155

Time frame Used - four hours
The EURUSD is moving in a bullish direction in the near term
EUR/USD CHART
the Purchasing power managed to control the movement of the EURUSD to breach the resistance level around the 1.1720 level
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area
 Therefore, we expect that the EURUSD will test the upper boundary of the ascending channel around the 1.1800 level and then return to the 1.1720 level again
 The alternative scenario is that the EURUSD breach level of 1.1.1800 to test the 1.1840 level
  Resistance: 1.1760 - 1.1800 - 1.1840
Support: 1.1.1720 - 1.1600 - 1.1563
Direction: Up
Direction: sideway
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