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Wednesday, July 23, 2014

Forex Price Action Trading Signal Technical Analysis

The EUR/USD pair initially tried to rally during the session on Wednesday, but as you can see turned back around and close towards the end of the day, forming a negative looking candle. The range was pretty small though, so as you can see it appears that the breakdown is slowing down a bit. If we continue falling though, we still believe that this market goes to the 1.33 handle given enough time. If we bounce from here, a resistant candle above would have a start selling yet again as we believe the 1.35 level should now be resistance.

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