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EUR/USD Price Analysis: Weekly rising channel tames gains beyond 1.1800

EUR/USD Price Analysis: Weekly rising channel tames gains beyond 1.1800

  • EUR/USD seesaws around the week’s top inside short-term bullish chart pattern.
  • A sustained run-up beyond 200-HMA, bullish MACD favor the buyers.
  • Sellers will wait for a clear break below 50% Fibonacci retracement for fresh entries.

EUR/USD picks up the bids near 1.1810, up 0.06% on a day, during Wednesday’s Asian session. The major pair cheers trading beyond 200-HMA amid bullish MACD. However, the resistance-line of an immediate upward sloping trend channel seems to probe the buyers.

As a result, the traders may witness a pullback move towards 1.1750 support should the quote slips under 1.1800. However, a 200-HMA level of 1.1745 and the support line of the aforementioned channel, at 1.1730 now, will keep stopping the bears.

 

  • EUR/USD seesaws around the week’s top inside short-term bullish chart pattern.
  • A sustained run-up beyond 200-HMA, bullish MACD favor the buyers.
  • Sellers will wait for a clear break below 50% Fibonacci retracement for fresh entries.

EUR/USD picks up the bids near 1.1810, up 0.06% on a day, during Wednesday’s Asian session. The major pair cheers trading beyond 200-HMA amid bullish MACD. However, the resistance-line of an immediate upward sloping trend channel seems to probe the buyers.

As a result, the traders may witness a pullback move towards 1.1750 support should the quote slips under 1.1800. However, a 200-HMA level of 1.1745 and the support line of the aforementioned channel, at 1.1730 now, will keep stopping the bears.

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