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EUR/USD expected to remain subdued - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair fell down to 1.0898 before recovering some ground, holding within negative territory intraday and with the technical picture suggesting a limited bearish scope.

    Key Quotes:

    "In the 4 hours chart, the technical indicators have also reversed course and turned higher after briefly breaking below their mid-lines. Also, the decline stalled around the 38.2% retracement of the latest daily decline between 1.1059 and 1.0804, and now hovers around the 50% retracement of the same decline.

    Trading will continue to remain reduced during this Wednesday, with some second-line data scheduled both, in Europe and the US."
    For more information, read our latest forex news.
     

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