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Long-term and Short-term Setups


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EUR/GBP Technical Analysis

 

~~ The counter has been in a steady decline for the last 3 months.

~~ Now, it has hit a strong support level which could trigger some profit booking.

~~ Further, the stochastic indicator has given a buy signal by crossing over from the oversold zone.

~~ Hence, we expect the pair to be bullish in the short-term.

 

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USD/CAD Technical Analysis

 

~~ The counter is currently hovering around long-term support of 1.3000.

~~ Though the price action has been able to marginally breakdown, it is not able to follow through.

~~ Further, the stochastic indicator has made a bullish crossover from the oversold zone in the 8-h chart.

~~ Hence, we expect the bulls to push the pair to higher levels from here.

 

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EUR/USD Technical Analysis

 

~~ The counter is currently forming a bullish flag pattern.

~~ It is now sliding down to the support zone placed around 1.2000.

~~ The support zone presents a good buying opportunity, however, if you are a risk-averse trader, we advise you to go long after it crosses the resistance at 1.21322.

 

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