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Forex daily technical analysis - Dec 28

(MENAFN - FOREXPROS) EUR - USD: The resistance 1.4410!: The Euro broke the resistance specified in Thursday's report 1.4371, but settled for a test of the resistance 1.4410 (Thursday's high was 1.4416). The technical outlook is still gaining positivity after breaking the falling channel that we talked about all last week, but failure at 1.4410 might be the first signal indicating a new wave of weakness. And since it is an important resistance, we will consider as resistance of the day, and breaking it would confirm the upward direction that started by breaking the descending channel. Short-term support is Thursday's resistance 1.4371, and if this important level is broken, this pair would target the important 1.4292 (important for short term and may be medium term as well), and then 1.4233. A break of today's most important resistance 1.4410 would cause a jump to 1.4502, and later to Fibonacci 38.2% for the medium-term 1.4596.

Support:
- 1.4371: Thursday's resistance

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