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EURUSD is back under 1.09 after recovery stall

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro probes below 1.09 handle, following short-lived recovery attempt from former low at 1.0902, which stalled at 1.0961. Fresh bearish tone was signaled by Friday’s long red daily candle, which came after triple-Doji consolidation and close below pivotal supports at 1.0963/51 (Fibonacci 61.8% of 1.0709/1.1374 rally / 100SMA), which generated bearish signal and keep next target at 1.0865 (daily Ichimoku cloud top), in near term focus. Setup of daily MA’s is in firm bearish mode,

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