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EURUSD retreated again, after failing to retest 1.10 level

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 12, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    EURUSD Daily 12-01-2016 06-32-27 ص.jpg
    After finding support at 1.0709, EURUSD could extend its rebound to reach yesterday 1.0968 but it faced difficulty to rise higher, after Jan EU Sentix investor confidence came to show slide to 9.6, while the consensus was referring to declining to 12.2 only, after reaching 15.7 in December.

    The pair came down for trading again near 1.0875 but it is still maintaining a place above its daily SMA50 with continued existence below its daily SMA100 and daily MA200.

    Despite the rebound to 1.0968, the pair daily Parabolic SAR (step 0.02, maximum 0.2) kept existence above the trading rate to read today 1.0968 in its eighth consecutive day of being above the trading rate, while the pair daily RSI is showing existence in the middle of the neutral are reading 50.182.

    Important levels: Daily MA50 @ 1.0817, Daily MA100 @ 1.1018 and Daily MA200 @ 1.1044


    S1: 1.0709
    S2: 1.0519
    S3: 1.0461
    R1: 1.0991
    R2: 1.1058
    R3: 1.1093

    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

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