EURUSD - double upside rejection requires further consolidation; key supports at 1.1250...

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD Near-term structure weakens, after repeated upside rejection and failure to close above 1.1473, Fibonacci 61.8% of 1.1712/1.1086 descend. Yesterday’s close in red, confirms hesitation, with the price sliding below 1.14 handle and threatening pivotal support zone at 1.1354/42, broken bull-channel resistance / 13 Oct higher low. Pullback should be ideally contained here, to keep overall bulls intact, however, deeper correction cannot be ruled out, as daily slow Stochastic that reversed

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