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EURUSD - Reverses Gain, Targets Downside Pressure

Discussion in 'Technical Analysis' started by Kaitlin, May 13, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    EURUSD With EURUSD reversing its Wednesday gains on Thursday, further downside pressure is likely. Support lies at the 1.1350 level. Further down, support comes in at the 1.1300 level where a violation will aim at the 1.1250 level. A break of here will target the 1.1200 level. Conversely, on[​IMG]

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  2. amittimothy

    amittimothy Well-Known Member Trader

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    EURUSD buy dips is my plan as for now, as long as 1.11 zone is holding. I think the pair still has the potential to push above 1.17 and this is why i remain bullish. There is nice up trend line along with horizontal support, seen on D1/W1 charts. 1.11-12 is the zone I want the pair to respect and hold above, the opposite will invalidate this setup and I will have to re-analyze the situation. Here is the plan for a buy. cheers
     

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