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EURUSD consolidates after cracking 1.06 handle. Further downside remains favored

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro cracked psychological 1.06 support, on extension of last Friday’s bearish acceleration that left bearish outside day. Strong bearish stance is also confirmed by negative weekly close. Firm break below 1.06 handle, is expected to trigger stops and accelerate towards next target at 1.0519, 10 Apr low with key med-term support at 1.0461, Mar 2015 year-to date low, seen in extension. Limited corrections are expected, with falling daily 10SMA / Tenkan-sen, which maintains month-long

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