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Old 28-01-2014, 14:03
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Default Re: Market news and trade recommendations by FBS

FX BAZOOKA: technicals (Jan. 28)


EUR/USD remained between $1.3700 and $1.3650, 50% and 38.2% Fibo of the decline from $1.3890 to $1.3507. MAs remain horizontal, so do the lines Tenkan and Kijun. MACD is in the positive area, but below the signal line and declining. The desire of the bulls to move higher is confronted by the expectations of another $10B reduction in the Fedís QE. The pair needs some additional drivers.

Resistance: $1.3700, $1.3750, $1.3800

Support: $1.3670, $1.3640, $1.3600

Chart. H4 EUR/USD

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