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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 172655, member: 22847"] [B]AceTraderFx Nov 07: Daily Recommendations on Major -EUR/USD[/B] [IMG]http://www.trendsetterfx.com/image/common/flag/flag_eur.gif [/IMG] [B]DAILY MARKET OUTLOOK on Major[/B] Update Time:[B] 07 Nov 2019[/B] [I]03:30GMT[/I] EUR/USD - 1.1068 The single currency's selloff from Tuesday's high at 1.1140 and subsequent break of previous support at 1.1074 to 1.1064 the same day suggests decline from October's 2-month peak at 1.1179 has once again resumed and consolidation with downside bias remains for weakness to 1.1020/23, however, oversold condition would keep price above 1.0990/00 and yield correction later. On the upside, only above 1.1175/79 would revive bullishness for stronger gain to 1.1 Pay attention to the release of German industrial production mm and yy at 07:00GMT. Street forecasts are -0.4% and 2.9% vs previous readings of 0.3% and -3.7% respectively. [/QUOTE]
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