Daily analysis of EUR/USD for July 29, 2016

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Overview

Gold price is testing the EMA50 remaining stable above it, while stochastic begins to provide positive signals on the four hours time frame. This supports the continuation of our bullish overview in the upcoming period, waiting to target 1,375.00 mainly followed by heading towards 1,400.00 as a next main target. Holding above 1,312.00 and 1,297.75 levels represent key condition to the continuation of the expected rise, as breaking them will push the price to test 1,249.75 areas before any new attempt to rise. The expected trading range for today is between 1,320.00 support and 1,370.00 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

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