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EURUSD - Return Below Daily Cloud Base Softens Near-Term Structure

Discussion in 'Technical Analysis' started by Kaitlin, Aug 4, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Near-term structure weakens as the Euro extends pullback from 1.1232 (02 Aug high) where near-term recovery was capped by sideways-moving 100SMA). Wednesday's close in long red candle and return and close below daily cloud base, generated bearish signal that suggests reversal. Today's bearish extension tested first strong support at 1.1124[​IMG]

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