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EURUSD: Pulled back after NFP news | January 7, 2017



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Eurusd has pulled back from resistance level at 1.0610. During NFP news, we saw rejection from that level and started falling from resistance. Big bearish candle can be seen on h4 time frame. This pair is still below the resistance level. So we can expect some bearish movement if the price stays below on the resistance in next week.

We should look for sell below 1.0610 level. If we can find sell candle on h4 near the resistance, then we need to place sell order and stop loss will be above 1.0625 and first target will be 1.0500 and then 1.0400 level.

On the other hand, if this pair break 1.0610 level, then we need to look for buy for expecting further bullish movement on eurusd.


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