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EURUSD Technical analysis 26-01-2016 by Grand Capital

 

The pair can leave the range it is consolidating in now if Fed announces the possibility of the new interest rate hike tomorrow. If it is clear that there are yet no reasons for the increase to take place, the pair will get some local support and can start rising.

The price is on the upper Bollinger band, higher than SMA5 and SMA14. RSI resides higher than 50% level. Stoch are in the overbought zone.

 

Trading recommendations: It is better to take no actions till Fed interest rate decision is announced.

 

Source: https://grandcapital.net

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