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EURUSD Trades In Narrowing Consolidation, Break Out Of Triangle To Define Fresh N/T Direction

Discussion in 'Technical Analysis' started by Kaitlin, Sep 14, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The Euro continues to trade in triangular near-term consolidation, as Tuesday's dips that closed the day in red, failed to break below significant 1.1200 support. However, pressure at the downside persists, as recovery attempts were so far limited by south-turning converged daily 5/20SMA's at 1.1240 zone, which lies just under[​IMG]

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