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3/16/2016 2:51:43 AM

EURUSD ends a session marked with high volatility - Technical Analysis - 16-03-2016



EURUSD kept falling in the intraday levels, with the pair ending a session marked with high volatility as it tries to gather positive momentum that'd help it rise again with the overall dominance of the upward trend in the short term, with ongoing positive pressure in the SMA for the last 50 days period, while noting a venting-off of overbought saturation apparent in relative power indicators.

Therefore we reaffirm our positive outlook for the pair, provided it settles first above 1.1105, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 1.1713 to 1.0500), targeting the next resistance at 1.1250, representing the ratio 61.8%.


Target
Risk


Support
Resistance


Trend Bullish

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