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EUR/USD: Further correction on the cards - SocGen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at Societe Generale, suggest that EUR/USD is breaching graphical support at 1.1085 and more importantly the flag formation within which the corrective recovery has evolved.

    Key Quotes

    “The correction is likely to continue initially towards 1.0940 and even towards May lows of 1.08. With weekly indicator at resistance, retest of 1.05/1.04 is not ruled out. 1.1510 should cap upside.”
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