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CURRENCIES TECHNICAL ANALYSIS November.04

Euro

The EUR/USD traded mixed on Thursday. The pair was weakening the half of the day and strengthening the other half. Sellers pushed the price lower from the recent highs. The price almost reached the nearest support 1.1050 when the euro switched its sentiment to bullish one. The pair returned to the opening level by the end of the day. The resistance is seen at 1.1150, the support is at 1.1100.

The pair remained around its critical overbought line. The price needs to decrease to return its status quo. Sellers may push the price below 1.1100 towards 1.1050.
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Pound

The pound had a positive day and extended its short-term bullish momentum. The pair grew, breaking above previous day’s top. Buyers broke the level 1.2400 and tested 1.2500. The current resistance is seen at 1.2500, the support exists at 1.2400.

A break above 1.2500 will extend the current upward momentum. The price may strengthen to the 1.2600 level.
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Yen

The USD/JPY pair had a neutral/negative day on Thursday. The price remained around its recent lows in the 103.00 region. An attempt to recover was stopped around 103.25. A downward impetus sent prices back to 103.00. The resistance is at 103.50, the support comes in at 103.00.

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