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EUR/USD Little Changed Within Correction Phase

Discussion in 'Technical Analysis' started by Kaitlin, May 10, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The European currency continues to diminish amid speculations the US Federal Reserve is going to proceed with policy tightening. The pair is clearly moving in the direction of the monthly pivot point at 1.1346, as the only intermediate demand is the 20-day SMA at 1.1371. Further weakness is highly likely,[​IMG]

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