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Cable penetrated thick daily cloud on yesterday's strong rally

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD Near-term technicals remain firm and favor final attack at key 1.1374 barrier (high of 11 Feb). The pair hit fresh high at 1.1341 yesterday, on extension of two-day rally from 1.1056 (16 Mar trough) and also being on track for the third consecutive bullish weekly close. This gives bullish signals for further recovery, on break above 1.1374 pivot that could extend towards 1.1495 (15 Oct 2015 high). Meantime, correction is expected to precede fresh bulls, with 1.12 zone (hourly higher

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