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FxWirePro:EUR/USD upside capped by 21- day MA, good to sell on rallies

  • Major resistance- 1.0700 (21- day MA)
     
  • Major support – 1.05200
     
  • EUR/USD formed a major bottom around 1.05214 and jumped sharply from that level. It is currently trading around 1.06474.
     
  • On the higher side 1.0700-1.07210 (21- day EMA and 61.8% retracement will be acting as major near term resistance and any break above confirms minor trend reversal in the short term. Any break above targets 1.0745/1.0800 level. Short term bearish invalidation only above 1.08735.
     
  • The next immediate support is around 1.05800 and any break below will drag the 1.05200/1.04500.

    It is good to sell on rallies around 1.0660-1.0665 with SL around 1.07210 for the TP of 1.05800/1.05200
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July 21 14:30 UTC Released

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Actual

144.8 %

Forecast

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2.4 %

July 21 14:30 UTC Released

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Actual

2.6 %

Forecast

Previous

143.9 %

July 24 00:30 UTC 835835m

JPForeign Direct Investm't*

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52.4 bln $

July 24 07:00 UTC 12251225m

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56.7 %

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56.9 %

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54.6 %

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54.8 %

July 24 07:00 UTC 12251225m

FRMarkit Comp Flash PMI

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56.4 %

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56.6 %

July 24 07:30 UTC 12551255m

DEMarkit Service Flash PMI

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54.3

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54.0

July 24 07:30 UTC 12551255m

DEMarkit Mfg Flash PMI

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59.2

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59.6

July 24 07:30 UTC 12551255m

DEMarkit Comp Flash PMI

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56.3

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56.4

July 24 08:00 UTC 12851285m

RUMarkit Mfg Flash PMI

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57.2 %

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57.4 %

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