EURUSD consolidates above 1.08 base; hourly cloud top offers initial barrier at 1.09

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro closed in green on Friday, pausing strong three-day fall. Bears found footstep at 1.08, where hourly base is formed. This marks solid near-term support, which is reinforced by rising daily 20SMA and former low of 07 Dec. Bounce off 1.08 confirms near-term range, established between 1.08 and 1.1058, also daily 20SMA as support and 200SMA as the upper boundary. Daily indicators are bullishly aligned, but mixed setup of daily MA’s suggests prolonged range-trading, while the price

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