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Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - According to Technical Markets Strategist William Moore at RBS, "Once again the market shows us how purely range-bound the EURUSD can be; the head and shoulders pattern from yesterday eventually reached down to its target at 1.2894 and managed to find some support, as it did on the 12 October and between the 26 and 30 October."

"Our bias here would be a small long as we can't see a good reason why this range won't hold for now. Look back to 1.2951 onto 1.2983 potentially. Moreover, should the market break through the lower end of the range, then we see grounds for the subsequent support is at the 1.2829 level." Moore suggests.
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