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Alert - EUR/USD Near The Support of the Ascending Triangle

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Alert - EUR/USD Near The Support of the Ascending Triangle

Postby Himanshu » Thu Oct 22, 2015 10:49 pm

In yesterday's chart alert for EUR/USD I had mentioned that further decline is expected first towards 1.1260/1.1280 support and then more. The pair moved as indicated yesterday.

The price-action is now near the support line of the longer-term ascending order. As indicated in some of the previous alerts, we expect further decline but caution is required near this support zone as this area near 1.1060 may bring some upward correction. Please check the weekly chart as follows:

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Any decisive break below 1.1060 should extend the decline to test the 1.1000 to 1.1020 support first and then possibly more. However, the psychological aspects of approaching parity level may cause some volatile upward moves and hence caution is required.
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Re: Alert - EUR/USD Near The Support of the Ascending Triang

Postby Himanshu » Thu Oct 29, 2015 3:35 am

EUR/USD finally breaks out the pattern which took 7 months in making'

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