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The Euro now poised for another way down

EURUSD Tech analysis by Simon Kazinsky on 10:56 January 17, 2019 EST


Retail traders are buying it but the trend has become clearer since last week.

The Euro Dollar cross rejected for second time a long term descending moving average that had previously brought to an end an up wave in summer last year.

Charts in shorter time frames are unclear but the long term trends remains clear, particularly after this event.

Retail traders, usually wrong, are confidently buying the Euro which adds confidence to the technical forecast.

As a target we can look at the 1.07 region where a gap that appeared on the recovery from 1.04 has not yet been closed.


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