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EUR/TRY: technical analysis on 04.12.2015

On the daily chart, the pair bounced off the upper MA of Bollinger Bands that coincides with the EMA65 and 50% Fibonacci retracement. The price remains above the EMA130 that leveled out after a recent growth. The RSI failed its resistance at the Bearish level near 56 mark. The Composite is testing its last week resistance and is about to form a divergence with the price. MA’s for both indicators suggest a strength of the market. 


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