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Price is based on the intermediate resistance level

29 April 2015, EUR/USD

Price is based on the intermediate resistance level 4 hours’ chart of EURUSD. Through correction to the 4 hours’ line of SuperTrend, the pair has continued its upward movement. At present, the first target is reached on the intermediate resistance level (6/8). In terms of strength, this is a medium level but it has enough potential to cause a correctional pullback. Target for pullback is the line of daily supertrend.

Nikolay Krishtopov
FreshForex Analyst
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