Forex - Chart EUR/USD Update: Consolidating - background studies continue to improve


 07:05 (GMT) 15 Oct

  [Forex Charts]

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Chart EUR/USD Update: Consolidating - background studies continue to improve (0101-PJTQ-C01)

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Asterisk denotes strength of level

07:55 BST - Quiet trade, with EUR/USD balanced beneath congestion around 1.1050. Mixed intraday studies highlight further caution, with potential for dip towards 1.0995/00. Any break, however, should stabilise above 1.0950 as bullish daily readings tick higher and longer term charts continue to improve. A later break above 1.1050 will target the 1.1073/75 area, but a further close above the 1.1081 Fibonacci retracement is needed to confirm extension of the October rally.


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