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EUR/NZD 4H Chart: Channel Down

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 3, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    EUR/AUD 4H Chart: Channel Down Comment: The outlook on EUR/AUD is bearish. The currency pair is trading within the descending channel, and the Euro is still overbought (71% of open positions are long) despite two months of the sell-off. The near-term gains are to be limited by the falling resistance line and weekly S1 at 1.46, while the target is a cluster of the lower trend-line, Jun 28 low and monthly S1. If this support is broken, the next objective will be at 1.3950/15, represented by the

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