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EURUSD - bears look for test of daily cloud base

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The pair remains under pressure and moves lower, approaching initial support at 1.08, last Friday’s post NFP low. Bears are taking control on daily technicals, as probe below daily 55SMA at 1.0830, is turning setup of daily MA’s into full bearish mode and indicators are moving into negative territory. Firm break below 1.0810/00, Fibonacci 61.8% of 1.0713/1.0967 upleg / Friday’s low, which marks the first pivot, would open next significant support at 1.0772, daily Ichimoku cloud base,

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