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  • EUR/USD – Falling Channel vs. Rising Trendline

    From fxtimes.com

    Read Full Story at fxtimes.com

    Falling Channel: The EUR/USD has been falling from 1.3710 throughout February, reaching a low of 1.3144 to end last week (2/22). The latest downswing cracked a rising trendline that goes back to July. However, instead of clearing it, the market consolidated around it to end the previous week. To start this week, the EUR/USD is pushed back above the trendline, and there appears to be a minor bottoming effort as we get into the 2/25 US session. Still the falling channel is holding structure with bearish momentum. If the 4H RSI reading pops up above 60, and price pops up above 1.34, then we are likely to ... (full story)

    • Pip Anon
      Pip Anon's Avatar

        1,563 posts
    • Looking at that "rising trendline" on the daily. Euro has broken, and stayed below this trend line for a while now. Pretty sure with trendlines are broken and close for a period of time below them it becomes resistance.

    • fxtimes

      1,581 posts
    • falling channel wins I guess. Berlusconi is Toxic
      - Fan

    • Pip Anon
      Pip Anon's Avatar

        1,563 posts
    • Of course he is. He is a politician.

    • michaelpelly

      314 posts
    • Quoting Pip Anon
      Fan, PM me if you can
      You like motor yachts and "bunga-bunga" parties? :-)

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