EURUSD rebounded on the 1.2050 support level on January 18, flirting now with the 20- and 40-day simple moving averages (SMAs). In the broader outlook, the price has been developing within an upward sloping channel since June 2020. Looking at the technical indicators, the stochastic is moving towards the overbought territory, suggesting a strong bullish action, however, the RSI is standing marginally above the 50 level. In case of an upward attempt above the SMAs, the pair would likely meet [..]
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