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Daily Charts ONLY: The EURUSD confined near the middle for the trading range

Discussion in 'Technical Analysis' started by ForexLive, Aug 15, 2016.

  1. ForexLive

    ForexLive Forum Member

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    What are the key technicals in play EURUSD With the pairs price trading below the 100 day MA but above the 200 day MA, the bias is more neutral. The price is currently trading above the 50% of the years trading range (more bullish) but only by about 15 pips. At the lows of the day, the price was just below the level. Traders remain unsure of the directional bias during the summer months with the range converging. It might not be until September that we get a break and run. Even so, with support below and resistance above a move lower from 1.1160 might get down to 1.08000 (lower yellow area), while a move above may get to 1.1450 and stall (upside yellow area). Watch 1.11628 just for fun. If it holds...maybe...Just maybe, the buyers will take more control

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