EUR/USD: Marabuzo Line Supports Gains
3cAnalysis | Oct 17, 2014 07:00
The market failed to extend Wed’s strong gains yesterday. Instead, in volatile trading, profit taking was attempted but while the downside was extensive it was not maintained below Wed’s Marabuzo line or the 13 day moving average.
The bulk of initial losses were regained into the close and although signals for sentiment are not strong going into today, it is the downside rejection that leaves intraday studies mildly positive targeting 1.2846 and 1.2888.
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