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EURUSD reacting higher after Friday's drop

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD, 240 min After the huge surprise in the US Non-Farm Payrolls numbers on Friday the market participants saw the December rate hike in the US as a done deal. This dropped EURUSD to a 1.0666 – 1.0752 support range and drove the US Dollar Index into a resistance (see Friday’s TCM report ). As a result EURUSD has recovered slightly and is at the time of writing up by 0.27% from Friday’s close. All in all the pair is still in a downward sloping channel with resistance ahead at 1.0833.

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