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- Dow Jones
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Last Update 03/03/2015 - 6:31am
AnalysisEURGBP - Intraday - We look to Buy at 0.7265 (stop at 0.7240)
We have a 61.8% Fibonacci pullback level of 0.7256 from 0.5682 to 0.9803. Price action has posted a bullish Outside Day and is positive for short-term sentiment. In line with the possible early stages of a reverse head & shoulders pattern and the strong rejection of dips, we look to set longs in anticipation of a swing higher. Trades within an intraday channel formation - high 0.7302 low 0.7262. The measured move target is 0.7360.
Our profit targets will be 0.7302 and 0.7360
Resistance: 0.7295 / 0.7302 / 0.7360
Support: 0.7260 / 0.7240 / 0.7220
Not sure about the analysis? Learn how to trade our signals >Disclaimer: This is a promotional sample of our financial analysis. It is provided so that potential clients can see the detail and formation of the information we provide. It is not a recommendation to buy or sell, nor does it constitute advice and you should not act upon this information. Hypothetical and simulated performance results do not represent actual trading, may not account for actual market factors and have many limitations. You may not achieve similar profits or results. No representation is being made with respect to performance, profits or results.
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