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Mr. Euro is the Man


Mar.10.2014

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The pick of the day is EUR/USD as Mr. Euro dances against Ms. USA. Remember that hardcore resistance level at 1.38 that we kept talking about in the past month? Well guess what, the naughty pair danced so passionately in the upward direction last Thursday that they finally broke above it and have been dancing freely on top of it for the past days. The RSI has been flat just below the overbought zone and we could see further gains with 1.389 and 1.4245 as next target. There is a possibility that the pair moves back briefly towards, the 1.38 level which is now a support, or one of the other Fibo levels to gain energy and shoot back up so keep an eye on that as well.

EURUSD resistance level fibonacci RSI Technical analysis

On the other hand, a downside breakout of 1.345 would call for a consolidation to 1.33.

Stay tuned for more updates and as you know our Q&A Friday kicked off last week and we are not gonna go anywhere soon. If you have a question regarding the markets, come on over and submit it on Invest Diva community and you may get a detailed answer on the show! Invest responsibly and I’ll see you guys tomorrow.

 

Kiana Danial Invest Diva

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