Thu, Jan 20, 2022 @ 07:28 GMT
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EURUSD Analysis: Moves Around 1.1898

Most of the previous trading day the currency pair spent in a horizontal movement, being squeezed between the weekly PP at 1.1918 and the monthly PP at 1.1881. At the same time, it is fluctuating in a symmetrical triangle pattern, which is about to be broken.

The southern side remains protected by the bottom trend-line of a dominant ascending channel. In contrast, the northern direction is secured only by the weekly R1, which is located more than 100 basis points from the current position of the rate. For this reason, an upcoming rebound still remains seems to be a more preferable scenario.

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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