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Forex technical analysis: EURUSD bounces in early NY trading

Discussion in 'Technical Analysis' started by ForexLive, Oct 19, 2015.

  1. ForexLive

    ForexLive Forum Member

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    50% and trend line support stalls the fall The EURUSD is bouncing in early NY trading. The pair fell to the 50% retracement of the move up from the Oct 1 low. at the 1.13144. The low for the day has come in at 1.13082 so far. Trend line support also played a role in finding support buyers (see chart below). This is a tough area with the cluster of support all centered in a confined area. I am not surprised to see the buyers at the area.

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