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After hovering below the March 2018 trend line for a few days last week, the EURUSD broke out on Friday. But we’ve been here before. Euro bulls broke this same trend line on March 20th yet failed to hold onto it as new support. By March 22nd, EURUSD was back below it on a daily […]Continue Reading
EURUSD carved one of its more narrow ranges last week. In fact, the single currency ended the week just 12 pips below Monday’s open. I pointed out this 1.1180/90 support area last week. The area triggered the early March bounce and also illustrated a multi-year low for EURUSD. However, last Tuesday’s bounce from 1.1180/90 wasn’t […]Continue Reading
EURUSD suffered a significant false break a couple of weeks ago. Buyers cleared trend line resistance following the March 20th Fed rate decision and statement. However, sellers were quick to extinguish those gains. By the 22nd, euro bears had already closed the pair back below the trend line. But that presented a new opportunity of […]Continue Reading
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