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EURUSD does what it was supposed to do on the correction

Discussion in 'Technical Analysis' started by ForexLive, Dec 10, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Holds the prior resistance area Traders who sold above, used what was old resistance for support. The price broke above a topside trend line and highs from last Friday's trade and squeezed higher earlier in the day. The high failed on the break of the ECB day high or 1.0980 and came back down from whence it broke. A move back into the channel should solicit more thoughts that the squeeze is over. The level comes in at 1.0950.

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