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Tuesday, 20 August 2013

EUR/USD H1 Update




General Overview for 20/08/2013 on 21:00 CET:
Currently EURUSD has broken above the recent high and actually has hit a new 6 month high.

Immediate impulsive bearish count has been invalidated.

New analysys focuses on more upside wave progression possibility as the larger time frame cycles has not been finished just yet.
As long as 1.3707 holds, the bias is still bearish.

Support/Resistance:
1.3451 - Intraday High
1.3421 - WR1
1.3380 - 1.3400 - Intraday Support Zone
1.3370 - Golden Trend Line Support Zone
1.3330 - 50%Fibo
1.3314 - Weekly Pivot
1.3300 - 61%Fibo

Trading Recommendations:
Buying the golden trend line lows seems to be a way to trade this pair now.
If golden trend line is broken , next level to buy is Weekly pivot area @ 1.3300.

Seb
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