Sebastian Quinn

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October 19, 2016 07:52 am
$EURUSD Bullish if breaks above 1.1100
EURUSD Following a lower Bollinger band crossover on the daily chart on Friday, the EURUSD pair rebounded in the last session and closed at 1.0997, following a high at 1.1008. Currently, the daily RSI and stochastic indicators are heading upwards, hinting at the presence of bullish momentum in the coming session. A potential positive centreline crossover by the 2H MACD along with the hourly momentum oscillators trading with a bullish showing, further affirms the above view. Key technical obstacle is situated at the 8H 20SMA (currently placed at 1.1041/45), followed by the 4H 50SMA (currently trading at 1.1070) and psychological 1.1100 levels. A break above the latter might lead to further positivity in the pair. On the flipside, key support is placed at the 2H 20SMA (currently trading at 1.0991/90), followed by the 1.0970 and 4H lower Bollinger band (currently trading at 1.0955) levels.
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@royalinvestor what do you think about next $GER30 move
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