EUR/USD Analysis: Eyes rising trend line support ahead of Fed

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The EUR/USD pair was rejected at rising trend line (Mar low-April low and extended) before falling below 1.1115 (50% of 1.1714-1.0517) in the NY session. Stock markets in the US were wobbly, but failed to support the funding currency EUR. Stock markets in Asia dropped and helped the EUR/USD pair re-test 1.1115 (50% of 1.1714-1.0517) levels. However, the bullish momentum was not strong enough to see the pair through 1.1115 levels. A strong US advance data coupled with stable equity markets

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