EUR/USD
EUR USD
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Ticker: EURUSD
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EUR/USD - EUR/USD Near the 2-Week High at 1.0800 - 12/08/2016 (GMT)

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The common currency is trading higher ahead of this year’s final European Central Bank monetary policy and gained back all its Tuesday’s losses. The EUR/USD pair rose more than 0.4% during yesterday’s session and is approaching the previous two-week high at 1.0800 psychological level following the strong rebound from the eight-month low at 1.0505. If the price surpasses the aforementioned psychological level to the upside it will open the door for a retest of the 1.0850 resistance level or moreover to the 1.0935 barrier. The traders of the main currency will take it below 1.0700 in the case of disappointment in the meeting later in the day. Technical indicators seem to be in agreement with the bullish thought as both are rising and are approaching the positive territory. The RSI indicator lies above the 50 level while the MACD oscillator is still holding below zero but above its trigger line.
This member did not declare if he had a position on this financial instrument or a related financial instrument.

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