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3/24/2016 3:40:26 AM

EURUSD keeps falling - Technical Analysis - 24-03-2016



EURUSD kept falling in the intraday levels with negative pressure from the SMA50, with the pair breaching the support of that ascending price channel that limited its previous short-term rises, doubling the negative pressures on the coming trading, especially with an influx of negative signals from relative power indicators, while settling below the pivotal resistance of 1.1220, which represents the ratio 23.60% of Fibonacci retracement levels for an ascending wave in the short term (from 1.0825 to 1.1342).

Therefore we expect more losses to come for the pair, specially if it broke through the support of 1.1144, representing the ratio 50% of the same retracement levels, targeting thereafter the support of 1.1083.


Target
Risk


Support
Resistance


Trend Bearish

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