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Market View

EURUSD slides after reaching 1.09

Tuesday, March 28, 2017 4:45 AM GMT

EURUSD is sliding lower after reaching the 1.09. The pair has outperformed from the lows 1.05 on February without any important correction. Today we are expecting Yellen and George speech as well as by FOMC’s members, Kaplan and Powel. Traders will focus on these events to get an idea regarding the next FOMC’s meeting. We have noted a potential scenario of two equal legs, which has a good symmetry with the rising channel. This means that the potential upside targets are 1.10 and 1.11. We need to pay attention on 61.8% level as resistance as well 50% level as potential support.  




On 4hours timeframe, we have noted a symmetrical rising wedge as well 2 possible scenarios in the event price goes even lower than now.

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