EURUSD - strong 1.1152/42 support under pressure

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro holds just above strong support zone at 1.1.1152/42 (daily Ichimoku cloud top / Fibo 38.2% of1.0820/1.1341 rally). This is seen as ideal reversal point for correction from 1.1341 (17 Mar top), to keep intact overall bullish structure. The notion is supported by bullishly aligned daily 20, 30, 55SMA’s and Momentum studies. Initial signals of reversal need sustained break above 1.12 barrier, reinforced by daily Tenkan-sen line, to sideline persisting downside risk, driven by

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