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EURUSD jumps to test critical resistance

From xm.com

{video} EURUSD is in the seventh day of gains, marking its longest bull run in a while to reach the critical 1.0880 bar. Disappointingly, Eurozone's flash business PMI figures for February could not lift the pair above that threshold earlier today as the manufacturing sector continued to shrink, but the technical indicators are still in the bullish area. The RSI has clearly jumped back above its 50 neutral mark, and the MACD keeps progressing above its red signal line, painting a rosy picture for the short-term. The positive slope in the stochastic oscillator is endorsing that scenario too, though with the indicator ... (full story)

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  • Category: Technical Analysis