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RKarina

EURUSD: Stable parallel price channel

Short
Euro / U.S. Dollar (FX:EURUSD)  
RKarina Updated   
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Technical Indicators EURUSD optionsstrategies intradaytrade Forex signals Technical Analysis longsetup
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trendanalysis harmonicpatterns indicator eurusd optionsstrategies intradaytrade forex signals technicalanalysis longsetup
Hi everybody,

Today, during Wednesday's Asian trading session, EUR/USD remained firmly above the key psychological mark of 1.0700. The US dollar weakened on weaker-than-expected April PMI data, which provided support for the pair.

According to technical analysis from the chart:
After bouncing from the lower boundary of the parallel price channel, the price is expected to resume the uptrend to test the resistance at 1,086, which is also the upper limit of the current price channel.
Comment:
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