Forex Strategy: EUR/USD Receives Confirmation of Bullish Pattern
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- EUR/USD Technical Strategy: Inside Day confirmation hints at further gains
- Euro breaks above resistance at 1.3530 suggesting renewed upside momentum
- Downtrend and other bearish signals suggesting overall technical mixed bias for EUR/USD
The confirmation of an Inside Day / Piercing Line candle pattern recently suggests that further gains may eventuate for EUR/USD. However, other technical signals including a prevailing downtrend on the daily supports a bearish bias. This leaves an overall mixed technical bias for the pair.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by David de Ferranti, Market Analyst, FXCM
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