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Market View

EURUSD Technical View and Scenarios

Thursday, February 23, 2017 3:04 AM GMT

The EURO made an impressive reversal against the Dollar yesterday. It managed to recover all losses and closed in positive territory.The French Presidential candidate changes resulted in boosting the Euro upwards against the dollar. Mr. Bayou decided to withdraw his candidacy for the French presidency. This action increases the chances of Mr. Macron to prevail against Ms. Le Pen.  Other European news was neutral to positive (German Business Climate rose to 111, EU Consumer Price Index had no change).  As regards FOMC, yesterday’s meeting drove the Dollar lower even though there were optimistic statements. FOMC members are expecting a new rate hike soon if the economy stays on track. 

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Source: Zulutrade’s Calendar

Technical View


There is potential failure swing as well as double bottom pattern. The trendline (white) defines the current downtrend.



Heading lower on hourly timeframe, we have noted the potential price action’s scenarios according the pair’s structure.


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