Forex Technical Analysis - RCPL Forex

Euro: Euro was sold heavily as ECB President talked about growth slowdown in Eurozone. Overall the pair traded with a low of 1.5310 and a high of 1.5505 before closing the day at 1.5310. Euro has broken the 1.53 mark in the morning session today and took support at 1.5192 (200 daily EMA). The overall bias continues to remain bearish with a target of 1.5050 (61.8 % retarcement of the rise from 1.4470 -1.6037 in daily charts). (Eur/Usd: 1.5228).


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