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Forex technical analysis: EURUSD looking closely at the 100 hour MA

Discussion in 'Technical Analysis' started by ForexLive, Feb 12, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Wednesday it broke but failed The EURUSD is down testing the 100 hour MA as NA traders enter for the day. The MA comes in at 1.12623. The low today just reached 1.12614. There has been a modest bounce off the first test to 1.1268. ON Wednesday, the MA was broken (along with trend line support. That break sent the price tumbling down to Tuesday's low only to find buyers and a snap back rally. Today, the price has already worked it's way below the trend line. The price has stayed below. This is the next target in the corrective move.

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