Forex Technical Analysis EUR/USD 2013-10-03
The currency pair rose to fresh 8-month peak after breaching cap at 1.3562 yesterday. Rising structure remains strong as indicated by surging trend lines with the most recent trend line being steeper suggesting upside is strengthening. Moreover, as you can observe all SMAs remain below prices not even providing any indication of short-term reversal.
Concerning indicators, Commodity Channel Indexis upwardly moving rising above 100 and still has room until previous crests line. In addition, ADX indicates that bullish trend is strong and valid.
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