Today EUR/USD has support and resistance at 1.2846 and 1.2932. The rate is accompanied by strong support at 1.2833 and by 1.2945 as strong resistance....
According to previous events, the price has still been trapped between 1.5280 and 1.5215, so it is wise to be careful in this range area around the level 38.2% of Fibonacci retracement levels and 00% (it will form a double bottom)...
The markets opened with minor gaps this week. This did not happen to JPY pairs only: it happened to some pairs and crosses as well. Great volatility is expected soon.
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The weak bullish structure with integrated swings led to price fall after the upper limit of the movement channel 1.5590-1.5600 had provided a considerable resistance for the pair....
We talked about consolidation of the pair within the price range 1.2950 -1.3240 and the importance of breakout off this zone for the liberation of the pair....
