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Cable below 1.42 on fresh bearish extension from 1.4514 peak

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The single currency remains under pressure and probes below 1.12 handle, on fresh extension of descend from 1.1341 peak that was shaped in three long bearish daily candles. Near-term structure is weak and suggests further easing, however, strong support zone at 1.1152/43 (daily Ichimoku cloud / Fibo 38.2% of 1.0820/1.1341), is seen as ideal reversal point for pullback from 1.1341. Overall bullish structure remains intact and sees pullback from 1.1341 as corrective action. Alternatively,

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