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Technically speaking, EURUSD bulls had everything going their way last week. That is until Thursday’s pullback. I’ve had this falling wedge pattern on my chart for several weeks now. Usually, a descending structure like this one triggers a break higher and subsequent rally of some sort. That’s especially true when dealing with a terminal pattern […]Continue Reading
I ended last week with a post about the indecisive EURUSD. As uneventful as the last few months have been, this week could hold the key to a significant moment for the single currency. As of Friday’s close, EURUSD is only 30 pips below a critical resistance level. I’ve written about this falling wedge several […]Continue Reading
EURUSD is becoming more interesting by the week. Not because it’s producing a plethora of favorable setups. Far from it, in fact. But because the longer term technicals are starting to come together in a way that could trigger a significant move later this year. Now, I’m by no means bullish EURUSD. I want to […]Continue Reading
EURUSD bulls had a strong start last week but lost momentum on Wednesday. The final two sessions of the week carved long upper wicks, but I don’t see this as a selling opportunity. For one, I don’t think the euro tested descending channel resistance as displayed in the chart below. But the primary reason I’m […]Continue Reading
EURUSD closed the week just 40 pips from where it opened. The single currency is holding above key support at 1.1215. However, it’s also still below descending channel resistance near 1.1430. That leaves EURUSD range bound for at least one more week. One thing I will say about last week’s price action is that buyers […]Continue Reading