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EUR/USD: In Correction from 200-Period Moving Average Support; 1.4070-1.41 is Resistance
The EUR/USD is rebounding off a bullish divergence after a sharp decline down to 1.3837. - The bullish candles formed ahead of the US session showed impressive strength relative to other bullish candles during the decline. This may be a sign of a correction. - There are some relieving signs as the ECB talks buying of periphery bonds. - For now, the market is held below 1.40. The latest bullish candle went from 1.3903 to 1.3987. If the low at 1.3903 is broken at the start of the US session, the market is most likely resuming the downtrend. - If the US session does not immediate fade the EUR/USD, and instead sees it ... (full story)
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