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Euro/Dollar: Euro Correction Expected After Break in Trend Line

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD 1H Yesterday’s Trading: In mid-December the euro bulls didn’t manage to strengthen above 1.10. Now they are in jubilation on part of New York Fed chief Dudley who helped them pass the important technical levels and pop the stops off the sellers’ short positions. All Dudley had to say was that a strong dollar is the Fed’s, the economy’s and US companies’ main problem and then the speculators began selling US dollar. At first the 1.0950 resistance was passed, then the main trend line

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