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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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EUR/USD - Bullish Momentum is Strong

EUR/USD has breached the resistance at 1.1043 (27/04/2015 high) confirming persistent short-term buying pressures. The break of channel resistance indicates an improving shortterm technical configuration. A key resistance stands at 1.1245 (27/02/2015). Hourly supports can be found at 1.114 (05/03/2015) and 1.1043 (18/03/2015)

In the longer term, the symmetrical triangle from 2010-2014 favours further weakness towards parity. As a result, we view the recent sideways moves as a pause in an underlying declining trend. A strong resistance stands at 1.1114 (05/03/2015 low). Key supports can be found at 1.0504 (21/03/2003 low) and 1.0000 (psychological support).

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