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FxWirePro- Major European Indices

FxWirePro: GBP/AUD positions for another drop, eyes 2.0100 level

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USD/CNH bought at 6.2600 with a tight stop

Friday, March 13, 2015 3:06 AM UTC

-50pts in Asia after dropping 40pts yesterday - extends 2 weeks of weakness
Price closed below 6.2774 rising 20dma - targets 6.2585, 38.2% of 2015 rise
5, 10 & 20 dma's conflict - momentum studies move lower
Modest negative setup seems like early Feb - preceded a rebound
Yesterday's 6.2680 low & earlier 6.2758 high initial support/resistance

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USD/CNH bought at 6.2600 with a tight stop

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