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EURUSD works its way back to support as momentum slows

Discussion in 'Technical Analysis' started by ForexLive, Jan 11, 2017.

  1. ForexLive

    ForexLive Forum Member

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    Trend move stalled The EURUSD ripped higher with little in the way of corrections. When trend legs (fast directional moves) do not correction below the 38.2-50% retracement of the leg higher, it says to me, that the trend is in tact. That is what we saw on the way higher. There were three legs higher and each held above the 38.2-50% correction zone (yellow areas).

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