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EUR/USD Trade idea

Monday, February 8, 2016 10:33 AM UTC

Major support - 1.0500 (200 day MA)
The pair has retreated after making a high of 1.12442. It is currently trading around 1.1138.
Short term trend is bullish as long as support 1.0500 holds. Any break below 1.0500 will drag the pair down till 1.1000/1.0920. The minor support is at 1.10900.
On the higher side major resistance is around 1.1250 and break above targets 1.1280/1.1350.

It is good to buy at dips around 1.1100 with SL around 1.1050 for the TP of 1.1240/1.1280.

R1-1.11780
R2-1.1250
R3-1.1280

Support

S1-1.1100
S2- 1.1050
S3-1.1000

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EUR/USD Trade idea

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