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Dollar extends gains vc majors on upbeat US ADP data

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro slid below 1.06 handle, after weaker-than-expected EU inflation data, signaled that bounce from near-term base, established at 1.0556, could be short-lived. Quick acceleration lower, which followed repeated rejection at 1.0630, daily 10 SMA, surged through hourly Ichimoku cloud, to find footstep at 1.0580. Structure of near-term studies is weak and sees increased risk of return 1.0556 base. In addition, firm bearish setup of daily technicals, favors limited recovery attempts,

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