Istvan Varkonyi
Marketprog Ltd.
4 Hour chart: Last weeks decline was countered with a similar run northwards on the chart. Since the xchange rate managed to break above the 1,0985 level we can expect further gains in the near future if the 1,0951 level holds. short term target prices are at 1,103 followed by 1,1056 which is also in line with the 200 moving average.
The 50 moving average is currently below the price action adding its support as well.
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