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Morning technical analysis – 13 March 2014
The euro is looking very bullish against the dollar right now and yesterday’s move only added to that. On the daily chart below the pair has just broken above the upper bollinger again following a similar move last week. This is generally viewed as quite a bullish signal. It also came following a brief pull back to the 38.2 fib level, which in itself I believe is very bullish. These shallow retracements suggest traders are very bullish on the pair and view these small corrections as a good entry level. The 4-hour chart looks equally bullish after the pair also closed above the upper bollinger yesterday. Unlike on ... (full story)