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Old 09-12-2020, 07:46
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KostiaFM KostiaFM is offline
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Default Re: Daily Market Analysis by ForexMart

EUR/AUD. 08.12 | Consolidation between the lines EMA 21 and EMA 60

The euro / Australian dollar currency pair has formed on the daily chart a series of doji patterns above the resistance level of 1.6300, located between the exponential moving averages for 21 and 60 days - EMA 21 and EMA 60.

Earlier, the EUR / AUD price renewed its maximum since November 4, after which it corrected to the nearest strong support level - 1.6300. I would like to see the completion of consolidation and continued growth along the upward trend.

I will monitor the appearance of buy signals. The nearest target is at the level of 1.6400, near the EMA 200 line. The medium-term target for growth is at the level of 1.6500.
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