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Forex technical analysis: EURUSD backs off from the topside resistance

Discussion in 'Technical Analysis' started by ForexLive, Nov 21, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    200 hour MA/50% form a cluster to lean against The EURUSD is trading higher today with most of the upside done in the Asia-Pacific session. In the European session, the price has corrected and then moved up one last time. That push extended the days range by less than a pip at 1.07166. The 200 hour MA at 1.0718 and the 50% of the move down from November 12 at 1.0723 gave traders a level to lean against (For a video on that dynamic see: ). Risk could be defined. Risk could be limited. In a market that may be searching for it's identity with continued Fed ambiguity, trading near key risk defining levels is what traders will be focused on.

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