Forex Technical Analysis - RCPL Forex

Euro: Euro erased all its losses as it surged 130 pips to touch a high of 1.5700 ( 55 4- hourly EMA) in yesterday’s session but closed much weaker at 1.5597. Daily & 4-Hourly stochastic are oversold while the hourly stochastic shows an upmove hence an upside till 1.5620 (21 4-hourly and 100 hourly EMA) could be witnessed. However, a firm break of crucial support at 1.5542 (100 Daily EMA) would push Euro to 1.5470 (downward channel support) and further. (Eur/Usd: 1.5569).


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