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USD/TRY 1H Chart: Channel Up

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 11, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    EUR/JPY 1H Chart: Channel Down Comment: After a massive 400-pip rally a week ago EUR/JPY entered a bearish channel. Accordingly, the latest recovery of the Euro from 132.70 should soon come to an end, namely at the upper boundary of the pattern at 133.85. However, as long as support at 132.70 remains intact, our outlook will be neutral, being that this demand level consists not only of the lower trend-line of the channel, but is also reinforced by the weekly PP and 200-hour SMA. At the same

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