EURUSD bear trend reversed
· A firm push through the solid resistance area at 1.2700/16, and the key trend line resistance, now 1.2685 for a shift to a range them into mid-October.
· We now see a range defined by 1.2995 above and the support at 1.2502/00.
· Within the range, a positive bias points to 1.2760/70 and maybe 1.2902 late this week.
· WHAT CHANGES THIS?
· Upside: Above 1.2995 aims higher for 1.3160 and 1.3220.
· Downside: Below 1.2502 sees risk to 1.2460, the 78.6% retrace of the entire 2012-14 rally into mid-month.
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4 Hour EURUSD Chart