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EURUSD - expect further dips while 200SMA caps

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD Near-term price action comes under pressure and pulls back from 200SMA at 1.1029, which capped yesterday’s repeated attempt higher. Yesterday’s close in red, signals fresh downside pressure, as descending daily cloud, currently at 1.1080, continues to weigh. Also, daily slow Stochastic is reversing from overbought territory, which gives bearish signal. Daily indicators are bullish, but mixed setup of daily MA’s, keeps the downside vulnerable. Yesterday’s low at 1.0923, offers good

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