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EURUSD is halfway to July’s top; tests 1.0940 level
EURUSD stepped into the 1.0900 zone after an exponential rally last week, marking a new 2½-month high of 1.0934 during Monday’s early European trading hours. The pair has passed the halfway mark to July's peak from the October low and some profit-taking would not be a big surprise as the RSI and the stochastic oscillator are hinting at overbought conditions while the price is testing its August’s resistance levels. Encouragingly though, the 20-day exponential moving average (EMA) has crossed above the 50-day EMA and is preparing for another intersection with the 200-day EMA, indicating the possibility of the ... (full story)