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Morning technical analysis – 24 October 2013
EURUSD The euro is trading higher this morning, although we have had a pull back after the pair hit a two year high earlier in the day. The pair broke above the resistance trend line on Tuesday, which suggests the market is still bullish. It also broke above this year’s highs to record new highs of 1.3821. We did get confirmation of the break on Wednesday, when the trend line became a new level of support for the pair, although based on the current price action, we may see it tested again in the coming days. If we do, I expect it to hold again, as the longer term outlook still looks bullish, with the next target ... (full story)