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EURUSD edges sideways but upside risks persist
EURUSD is consolidating beneath the capping 50-day simple moving average (SMA), after the pullback from the multi-year top of 1.2349 bounced off the 100-day SMA. The slowing upward pace of the 50-day SMA is promoting sideways price action, while the rising 100- and 200-day SMAs are preserving the upwards structure. The positively tilted short-term oscillators are also defending the bullish momentum. The MACD, a tad above its red trigger line, is flirting with the zero threshold, while the RSI is trying to maintain its nudge above the 50 level. Moreover, the stochastic oscillator is sustaining a positive charge, ... (full story)
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