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EUR/USD breaks major resistance around 1.04640, jump till 1.0540 likely

Thursday, December 29, 2016 10:51 AM UTC

Major Intraday Resistance - 1.04640 (Gann Fan 8*1)
Major support – 1.03500
EUR/USD recovered sharply from the low of 1.03720 till 1.0646 at the time of writing . It is currently trading around 1.04547.
Any indicative break above 1.04640 will take the pair till 1.05425/1.05600 level. It should break above 1.06700 level for further jump.
On the lower side, any break below 1.03500 confirms further weakness a decline till 1.03100/1.0261 (161.8% retracement of 1.03522 and 1.04992).

It is good to buy above 1.04640 with SL around 1.0430 for the TP of 1.05425/1.05600

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EUR/USD breaks major resistance around 1.04640, jump till 1.0540 likely

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