EURUSD bounces on profit-taking, overall picture remains bearish

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro remains under pressure and retested yesterday’s low at 1.0629, which lies ticks above 16 Apr low at 1.0622, the last obstacle on the way to psychological 1.0600 support. Near-term price action bounces from fresh lows, on profit-taking rally, which is expected to precede fresh attempts lower. Initial barriers lay at 1.0680/90, hourly lower platform / falling hourly Ichimoku cloud base, which should ideally cap. However, break here would signal hourly double-bottom formation and

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