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EURUSD attempts to base above 1.1120 support

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro stabilizes above yesterday’s low at 1.1126, where Fibonacci 38.2% of 1.0709/1.1374 rally, also the lower boundary of strong 1.1160/20 support zone, contained two-day pullback. Consolidation remains capped by initial barrier at 1.1200 for now, however, attempt above and stretch to the breakpoint 1.1225, Fibonacci 38.2% of 1.1374/1.1126 downleg, cannot be ruled out. Sustained break above 1.1225 is needed to signal near-term base and trigger stronger retracement of 1.0709/1.1374

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