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EUR/USD Technical Analysis


Jan.17.2014

The pick of the day is EUR/USD, which has been on an overall uptrend since July 9th 2013. The trend line is perfectly touching 4 higher lows, the latest being yesterday.

EURUSD Forex Dance Floor

Adding a Fibonacci retracement to the latest uptrend wave between November 7thand December 27th, as you can see the pair is now dancing right at the 50% Fibonacci level which interestingly enough crossing the overall uptrend we were talking about. Will the 50% Fibonnaci hold? If not, a break below this level at 1.35920 could open doors for more declines in this currency pair.

EURUSD Uptrend Fibonacci 11/16/2014

Stay tuned for more technical updates and don’t forget to follow the fundamental news and market sentiment as well, before you make a final trading decision!

 

Invest Responsibly,

xoxo

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