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EURUSD breakout only below 1.0800

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FOMC expected rate hike and year end flows tanked the pair towards 1.0800 important support. As we know Christmas and New Year holiday is approaching and both year end flows and profit taking is already happening. Technically this should be USD positive and EURUSD is seen more down. Possible positioning on short term rallies could come within 1.0890-1.0900 POC zone (H4,E89,the top of EQ channel) and it should reject the pair towards 1.0840 and 1.0805. ONLY if the pair manages to break 1.0800

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