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EUR/USD Breaks Above February’s Falling Channel
Breakout: After some bearish trading within a falling channel since the beginning of February, the EUR/USD is starting to challenge this bearish outlook as the 2/13 European session pushed price above the channel resistance as seen in the 4H chart. This breakout is in the direction of the trend of a larger degree. Note that price has remained above the 200-SMA, although the smaller averages converged, reflecting a period of consolidation, but still maintenance of overall bullish trend. Momentum: The RSI showed loss of bullish momentum when it almost tagged 30. It is now at 60, a break above which will show loss of ... (full story)
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- ReaM
- | Joined Dec 2010 | Status: It's all about money. | 234 Comments
I found a penny today. That's +100 pips for me.
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