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EURUSD - strong rally was followed quick reversal; focus is still at the upside

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro has lost its near-term bullish stance, after today’s fresh bullish acceleration to 1.1452 was followed by sharp reversal that retraced nearly 76.4% of two-legged 1.1325/1.1452 bullish acceleration. Quick pullback shows persisting hesitation ahead of key resistances, which was signaled by long-legged candles of past four days and on track to form another similar daily candle. However, while the price holds within 1.1325/1.1452 range, the action could be seen as

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