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EURUSD: Buyers, Beware

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    It seems that the euro had a bit of a fight left in it, as price rallied for nearly 300 pips, making a new high in the process. Nonetheless, this may not be the right time to turn fully bullish. For one thing, the pattern we’re currently tracking, which is a contracting triangle, is characterized by converging trend lines, so price isn’t expected to move much higher, if at all. And for another, there’s a bearish divergence between price and momentum, which indicates that the upwards potential

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