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Contributors Chart Of The Day For August 27th,2014 – EUR/USD

Talking Points:

 

 

The Euro remains under heavy selling pressure, descending to the weakest level in almost a year against the US Dollar. A daily close below the 76.4% Fibonacci expansion at 1.3151 exposes the 1.3048-64 area marked by the 100% level and a falling channel floor. Alternatively, a reversal above the 61.8% Fib at 1.3204 clears the way for a challenge of the 50% expansion at 1.3248.

We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The rest remains open to capture continued downside momentum. The stop-loss is now at breakeven level.

EUR/USD Technical Analysis: Euro Eyeing One-Year Lows

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