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EUR/USD: After probing a multi month descending trend and early February lows of 1.08, EUR/USD embarked on a rebound. The recovery seems to be running out of steam as the pair has faced resistance at graphical level of 1.1060/1.11 which also corresponds with the 50% retracement of recent down move. Formation of a doji at those levels suggests that the pair has failed to clearly re-integrate within a daily ascending channel. Upside is likely to remain capped as highlighted by weekly indicator which is testing a down sloping... READ MORE
