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After the pair rose above resistance level 1.4110 (which thus had become the current support), it broke up the higher boundary of the “wedge” figure. All this clears the way for the market to develop an uptrend with the upside targets set at resistance levels 1.4300 and further at 1.4400. The uptrend will be replaced by a downtrend in case the pair drops below support level 1.4050, which will be followed by moving down to support 1.3895 and then to 1.3800.
He started to study FOREX market in 2003. Since 2007, he started to offer analytical forecasts
for the major currency pairs and for gold prices in order to better understand the market and
to assist to traders to identify the main key market levels.
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