FxGrow Daily Technical Analysis – 02nd Sept, 2015
By FxGrow Research & Analysis Team
EURUSD fibo 78,6% stopped the descent
EURUSD rebound from top of the upward channel, additionally 1.1700 level is a resistance chich price were seen in January 2015. Currently EURUSD is in the middle of the channel. At the level 1.0850 is a lower limit of the channel and a resistance.
After descent from 1.1700 level fibo 78,6% stopped the fall. The descent took a form of a downward channel and if Friday upper limit of the channel was break. Price stabilized around the 1.1280 level. Currently move up is more likely. Alternatively broke lower limit from the last week will lead price to 1.0850.
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