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Credit Suisse enters long EUR/USD

Credit Suisse enters long EUR/USD

Credit Suisse has entered short-term EUR/USD long from 1.2578 Short term trend: Bullish Ichimoku analysis (4 Hour chart): Tenkan-Sen level: 1.2551 Kijun-Sen level: 1.2499 Ichimoku cloud top: 1.2454 Ichimoku cloud bottom: 1.2467 EUR/USD made a low of 1.24439 and has recovered till 1.2599 level. Overall trend is bullish as long as support 1.2356 (Nov 7th low) holds. Any break below 1.2350 will target 1.2200 in the short term. The pair is facing major resistance around 1.2630 and any indicative break would extend gain to 1.2769 (Oct 29th high)/1.2900 in the short term. Short term bullish invalidation can happen only below 1.2350. Recommendation: Buy EUR/USD around 1.2578, SL 1.2350, Target 1.2900