Forex - Chart EUR/USD Update: Consolidation at the 50-day MA before next breakout


 16:00 (GMT) 11 Oct

  [Forex Charts]

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Chart EUR/USD Update: Consolidation at the 50-day MA before next breakout (0101-PNMY-C01)

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Asterisk denotes strength of level

16:00 GMT - EUR/USD is now taking a little time to consolidate near the 50-day MA at 1.1050. Once that process has run its course, the mkt still looks poised for more short-term upside to the 38.2% Fib. level at 1.1081. All that we can do is take it one key target at a time and expect the dip buyers to remain active at least while the mkt still holds above the 1.1000 breakout level.


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