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SteveEnnom
Jun 8, 2018 2:50 PM

200 EMA playing support Long

Euro Fx/U.S. DollarFXCM

Description

Here's a brief update on EUR/USD cross.

The main downtrend channel broke and what was earlier a difficult to break ceiling, the 200 days EMA, is now playing the role of a support.

Its role can be shown in the 200 EMA rejection that happnened (with consistent volumes) today.

Overall the trend seems a bullish one but the macroeconomic situation (Italian situation, trade war...) can deeply affect the future developments of the cross.

***As usual, not a trading advice but merely my idea for informational and educational purposes only***
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