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EUR/USD Short-Term Bullish Consolidation

EUR/USD’s bearish momentum is very strong. Hourly resistance is given at 1.1961 (27/11/2017 high). Hourly support given at 1.1730 (08/12/2017 low). Expected to show continued decline.

In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).

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