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AUDUSD ticks away from key 0.7222 barrier; wave C could extend to 0.7265, 100% expansion

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro reverses below daily 10SMA at 1.0723, which was broken on yesterday’s strong rally. Extension of recovery from 1.0615 low was capped at strong 1.0760 barrier, 4-hour Ichimoku cloud base / former hourly double-top, yesterday. Today’s fresh bearish acceleration also probed below hourly Ichimoku cloud, on dip to session low at 1.0662. The action weakens the structure of near-term technicals and signals lower top formation, as overall picture remains bearish and favors renewed

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