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EURUSD Rejection from Resistance Zone | May 27, 2017



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EURUSD has failed to make new high after strong bullish movement. It has found some resistance and starts losing its bullish momentum. So below the resistance level, this pair still face bearish pressure.

The corrective pattern below 1.1268 peaks is still underway. A breakout through 1.1160 to challenge 1.1080 area. Important resistance lies at 1.1310. 

At the end of last week, we can see a rejection candle on h4 with big bearish pressure. This rejection can force this pair more on downside movement. 

On the chart, we can see a triangle pattern. We can wait for the breakout of this triangle pattern. We prefer to stay in sell mode if it break the triangle and little support level at 1.1160



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