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Forex technical analysis: The EURUSD keeps the ceiling in place...but

Discussion in 'Technical Analysis' started by ForexLive, Jul 20, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    ...it needs to move... On Monday, the EURUSD held resistance against a bunch of MAs. I talked about that level in the weekend video. ON Tuesday, the price fell below the lower extreme at the 1.1023-28. Yes... we traded lower on July 8 and July 11 and even a little tiny bit on Friday's late Turkey coup sell off (see red shaded areas in chart above). BUT...The low close going back to June 28 on the hourly was 1.1024. The low on June 30 was 1.1023. The falls below that area could not sustain the selling. That is the area that is/was the floor.

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