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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 97402, member: 22847"] [B]AceTraderFx Feb 19: Daily Recommendations on Major -EUR/USD [/B] [IMG]http://www.trendsetterfx.com/image/common/flag/flag_eur.gif[/IMG] [B]DAILY MARKET OUTLOOK[/B] Update Time: [B]22 Feb 2016[/B] [I]03:44 GMT[/I] [B]EUR/USD - 1.1112[/B] Despite euro's resumption of decline from February's 3-1/2 month peak of 1.1377 to a 2-week trough of 1.1067 in New York last Friday, subsequent rebound to 1.1138 suggests temporary low is possibly in place and a day of choppy consolidation with upside bias is envisaged. Above 1.1138/39 res would add credence to this view and yield a much-needed retracement towards 1.1179, however, reckon res at 1.1193 would cap upside. On the downside, only below 1.1060 (previous res, now sup) would risk marginal weakness, near term loss of momentum momentum should prevent steep fall and 1.1030/40 is expected to contain weakness, bring correction. [/QUOTE]
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