November 22, 2012

EURUSD Re-Claim The Gain - PMI Data

EURUSD Re-Claim The Gain - PMI Data

source: fateeh

The EURUSD re-climbing the ladder upwards after improved PMI data from Germany and France as hopes for an imminent deal on an aid payment for Greece supported the single currency.

Therefore, the bullish rhythm is back as the EURUSD already broke the multiple resistances of EMA 21 and SMA 200. The MACD shows zero-break pattern (it cancel yesterday's yet to be confirmed bearish trend continuation pattern.

Nearest stops at the round figure 1.28.
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About ArrowFX

Technically analyze the forex market mainly on USDJPY, EURUSD and GBPUSD by using market rhythm method started by Philip Nel on Forex Factory. The thread started on 2007 and still alive.
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