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EURUSD Facing Important Resistance Zone

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Key Highlights Euro after trading down towards the 1.1060 area against the US Dollar found support, and currently attempting to correct higher. EURUSD is facing an important resistance area near the 100 hourly simple moving average, which may ignite another downside move. There is also a critical bearish trend line formed on the hourly chart, which is positioned with the 100 SMA. Today, the German Manufacturing Purchasing Managers Index (PMI) will be released by the Markit economics, which is

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