|Daily Forex Update: EUR/USD|
|Daily Forex Technicals | Written by Autochartist | Jul 26 13 02:04 GMT|
Daily Forex Update: EUR/USD
The pair is expected to rise toward this resistance level in the next 18 trading days. This forecast is aligned with the preceding sharp upward price impulse from the strong support level 1.2800 (which has created the daily Triple Bottom chart pattern visible on the chart below). The pair just broke up above the resistance area (highlighted on the second chart below) set between the round resistance level 1.3200 and the 61.8% Fibonacci Retracement of the preceding daily downward price impulse from June – which adds to the probability EUR/USD will continue to rise toward 1.3435 in the coming sessions.
The following daily EUR/USD chart shows the technical price levels mentioned above:
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