Tuesday 9 February 2016

Technical analysis of the EUR/USD for February 9

EUR/USD

Euro/dollar attempted to push lower yesterday, bottomed at 1.1085, but then turned up, shielding higher at 1.1192 and hitting 1.1237 earlier this morning. The outlook is bullish in nearest term for re-testing 1.1240, which level should be clearly broken to continue the bullish scenario targeting near 1.1500. Immediate support is seen at 1.1150. A clear break above that area could lead price to neutral trading zone but as long as the pair stay above 1.1070, the bullish scenario remains actual.


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