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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 97587, member: 22847"] [B]AceTraderFx Feb 25: 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]25 Feb 2016[/B] [I]05:00 GMT[/I] EUR/USD - 1.1027 Although yesterday's rally from a fresh 3-week bottom of 1.0957 to as high as 1.1046 in New York session confirms euro's recent decline from February's 1.1377 peak has finally made a temporary low and 1-2 days of choppy consolidation is in store, as long as 1.1067/71 (previous ups, now res) holds, downside bias remains. Below 1.0957 needed to extend marginal weakness, loss of momentum should keep price well above minor chart at 1.0904. A firm rise above 1.1071 would signal long-awaited correction of aforesaid decline has taken place and risk stronger retracement towards 1.1138/39 before prospect of retreat next week. [/QUOTE]
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