EURUSD consolidates after yesterday's fall; further downside is favored

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro collapsed yesterday on ECB chief’s comments, taking out all strong supports and turning near-term structure into firm bearish mode. Yesterday’s fall left long red candle, cracking initial 1.1103 support, with today’s fresh extension lower, probing below 1.1086, 03 Sep former low. Full retracement of the bull-phase from 1.11 zone to 1.1494 and cracking short-term higher base, opens way for further weakness, as daily studies are turning negative (bearish setup of daily MA’s and

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