Forex - Chart EUR/USD Update: Consolidation before prices continue higher


 08:28 (GMT) 11 Jan

  [Forex Charts]

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Chart EUR/USD Update: Consolidation before prices continue higher (0101-HJTJ-C01)

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Asterisk denotes strength of level

08:20 GMT - Profit-taking at 1.1570 has pushed prices to congestion around 1.1500. Consolidation is now developing, as intraday studies turn mixed. A close beneath here, if seen, would add weight to sentiment and prompt a cautious downgrade, as focus subsequently turns to 1.1420/50. Expectations, however, are for consolidation to give way to fresh gains. A later break above 1.1570 will target the 1.1585 Fibonacci retracement, ahead of 1.1628.


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