The euro has lost its
value in the past week after achieving its two year high of 1.41224. This has
led the market towards downward
and gained around 280 pips.
As the trend shows the “sell” market, the moving
average insists the “buy” market obviously. Besides, there are some other
indicators implies the same thing in
this market.
Already, the CAD has gained the substantial pips and ready to sail
in the opposite trend. So, today will be
the end of the oversold condition as of the indicators determination.
The two
year high will be a greater resistance and we could hope the trend to attain by
the high impact news releases. The contribution of sequential news releases
will give additional support to achieve the best resistance.
The traders could
expect a tremendous pips of 100+ and this impact will be forced to achieve its
future resistance.
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