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EUR/USD – Movement Toward 1.0930

EUR/USD – Movement Toward 1.0930

EUR/USD – movement toward 1.0930

Last week EUR/USD falls to area 1.0800 during press conference (after ECB meeting). Despite the attempt to deepen this decline, supply wasn’t able to take control. Since the beginning of current week, EUR/USD moved upward.

Nearest target for demand is 1.0930 level, which is an upper limit of downward channel in which price moved for two months. Important event for EUR/USD will be tomorrow. During the day, we will get data from the US real estate market and in the evening decision and statement after FOMC meeting. In this time it is more than sure that there will be high volatility in EUR/USD. Nearest support is at 1.0840. Resistances are located at: 1.0870, 1.0930, 1.0970.

Time-frame H4

EUR/USD 4 Hour Chart

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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