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EUR/USD: Bullish bias above 1.302

EUR/USD: Bullish bias above 1.302
The EUR/USD had a volatile week, with the pair finding strong resistance at 1.318 before retracing back to the key psychological level at 1.30 where it is currently hovering. At 1.3040 at the time of writing, the jostling for position between the bulls and bears continues as the bears try to pull the market lower. This is a significant area and we expect to see some more noise, following last week’s volatile movement. With the 1.30 level offering strong support, key level for the bulls to watch sits at the top of the shooting star on the daily chart at 1.3115. A break above that level, would open the door to 1.315 and 1.32. In the alternative scenario, a consistent break below 1.302 would put the market back into negative outlook with main targets at 1.2985 and 1.295.

Dafni Serdari
Market Analyst
Disclaimer
The comment in this blog is the personal opinion of the contributors and not Intertrader.com. The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. Intertrader.com is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.

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