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EURGBP : Collapses On Shooting Star Formation

Discussion in 'Technical Analysis' started by ActionForex.com, Oct 14, 2009.

  1. ActionForex.com

    ActionForex.com Content Contributor

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    Having printed its highest price since Mar 27’09 early Tuesday, EURGBP backed off that level and traded lower to close at 0.9315 forming a shooting star candle (top reversal signal) on Tuesday. Although seen turning off its intra day low today, the mentioned candle formation is ominous of a halt...

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  2. Fxtrader88

    Fxtrader88 New Member

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    Price action from 0.6935 is possibly just developing into sideway consolidation pattern. Hence, in case of another rise, strong resistance would be seen at 0.7650 to limit upside. Eventual break of 0.6935 support is expected.
     
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