EUR/USD May High Influences for Outside Day Reversal
15 Oct 2015 20:31, GMTDaily
Chart Prepared by Jamie Saettele, CMT
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-EUR/USD is still a range. For months, commentary has focused on the fact that EUR/USD continues to find support at the median line (from slope that originates by connecting the March and April lows). Yes, the tight range will give way to the next directional move but the immediacy of that move is called into question after today’s (10/15) outside bearish reversal, which took place very near the May high.
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