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EURUSD - n/t focus shifts lower after recovery rejection; range remains in play

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro is losing traction and heads towards session low at 1.1116, after recovery attempt stalled on approach to near-term consolidation top at 1.1191. Fresh downside action confirms negative signal, generated on yesterday’s bearish daily candle with long upper shadow. Near-term studies are weak, while setup of daily MA’s remains bullish, with 20/200SMA’s Golden Cross formation and oversold daily Slow Stochastic, which is expected to generate bullish signal in the near-term, to delay

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