FX Weekly (27 Aug ’17)

EUR/USD breaking higher in fresh buying

Regaining higher levels.

Bounce from the 1.1735, (38.2%), Fibonacci retracement of the 2014-2017 fall now pressuring the 1.1900-1.2000 barrier.

Potential for extension towards the 1.2100~ year high of January 2015 and the 1.2165, (50%) Fibonacci retracement, as investors maintain a Positive stance and background studies continue to improve.

An unexpected close below the 1.1615~ year high of May 2016 will prompt a Downgrade to Neutral.


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