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The currency pair extended its growth and now is trading at 182.88 at the time of writing. As you can see on the H1 chart, the rate jumped above the minor downtrend line and above the 182.21 former high signaling an upside reversal. These represented immediate upside obstacles.
In the short term, the rate came back to retest the broken 182.21 upside obstacle, confirming the breakout.
Retesting 182.21 and jumping far above the 182.64 former high validates further growth and was seen as a new buying opportunity. The major downtrend line could be seen as the next major obstacle.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
The test of the 146.75 level coincided with the moment when the MACD indicator had just started to move upward from the zero line, confirming a valid entry point
The test of the 1.3529 level occurred when the MACD indicator had just started to move down from the zero line, confirming a valid entry point for selling the pound
The test of the 1.1757 level occurred at the moment when the MACD indicator had just started to rise from the zero line, confirming a valid entry point for buying
Trade Analysis and Euro Trading Tips The test of the 1.1756 level coincided with the MACD indicator moving well below the zero line, which limited the pair's downward potential. Eurozone
The test of the 146.56 level occurred when the MACD indicator had already moved significantly above the zero line, which limited the pair's upward potential—especially in the context
The test of the 1.3551 level occurred when the MACD indicator had just started moving up from the zero line, confirming the validity of the entry point for a long
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