Forex Trading Library

EURUSD 2016-04-14

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As we advised 2 days ago, market managed to break below Rising Wedge formation which affected Euro with more drop correction where market managed to obtain daily close below 1.1300 yesterday which may hit market with more drop as market closing to US inflation data today

market facing resistance zone at 1.1305-35 where as long as market holding below this zone will expect farther drop to test 1.1150-70 zone, while below 1.1150 market will face support at 1.1050-70 zone

any daily close above 1.1335 will restore strength for the uptrend movement

  Support Resistence
Level 1 1.1225 1.1305-35
Level 2 1.1150-70 1.1400
Level 3 1.1050-70 1.1465
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