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Weekly Overview on Majors' Price Action

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD - Correcting Last week I was expecting for the price of EURUSD to continue the up move towards 1.13. The price hit 1.1300 and continued to rise until it hit the channel rejection line.This area proved to be a strong resistance zone. The EURUSD bounced back down towards 1.1200. I am expecting this corrective move to continue. The confirmation of the drop would come to a close, with a four hour time frame,below 1.1160. In this situation, EURUSD might retest the support area from

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