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EUR still in consolidation, will the upside gain power?

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR didn't react powerfully to ECB decision last week. In fact it behaves as usual, and currently daily indicators turned bullish. The price has stopped at the Weekly Senkou Span A price at 1.1190. We still have a huge Weekly negative cloud above which will continue to prevent the price from going up too fast. It is still not clear if the current upside will continue or not, but the pair now uses 1.1050-1.1000 area as support and at the same time as a reversal point. So you have to watch

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