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2/25/2016 2:34:09 AM

EURUSD faces a strong resistance - Technical Analysis - 25-02-2016



EURUSD engaged in volatile trading in the intraday levels, sliding to lean on the pivotal support of 1.0964, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the short term (1.0710 to 1.1375), which gave it positive momentum that bounced it higher, facing eventually the resistance of 1.1043, representing the ratio 50%, with ongoing negative pressure from the SMA50, while relative power indicators have reached extremely overbought levels.  

Therefore we expect the pair to slip in the coming trading as long as the resistance of 1.1043 holds, targeting the support of 1.0964 again as it readies to breach it.


Target
Risk


Support
Resistance


Trend Bearish

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