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Forex technical analysis: EURUSD cracking back above topside resistance

Discussion in 'Technical Analysis' started by ForexLive, Jun 15, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Back above the 100 day MA and testing the 100 on the 4-hour too. Can the momentum continue? The EURUSD has been on recovery path today - albeit with a narrow trading range (always room to extend which is what we have just seen). The pair has been able to climb back above the 100 day MA at the 1.12185 level. The price just cracked above the 100 bar MA on the 4-hour chart too at 1.12337. That MA held the low on Monday's trade. Also remember the 1.1214-18 level? If you don't, put horizontal lines at those levels and go back to March 10. There have been a number of swing levels at that level. With the 100 day MA at the same area, a key level going forward.

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