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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
EURUSD looked as confused as ever last week. Just when it seemed like Tuesday’s bullish engulfing candle would take prices higher, Wednesday’s session erased all of those gains and then some. It’s a degree of indecision that has plagued the single currency since October 2018. In fact, I could argue that EURUSD has been in […]Continue Reading
EURUSD bulls lost ground every day last week. However, if the last four months are any indication, this may only be a temporary selloff. EURUSD has been mostly range-bound since October of last year. The majority of that time was spent between 1.1300 support and 1.1500 resistance. But there are no guarantees that the 1.1300 […]Continue Reading