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Forex News EUR/USD

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mlawson71

Member
EUR/USD decided to rally during the last day of 2019 and the first day of 2020 and reached 1.1240, it will likely break out above 1.1250 too.
 

mlawson71

Member
It pulled back from 1.1240 which was to be expected after such a rally, but after a correction the move north will likely continue.
 

mlawson71

Member
Either way, EUR/USD is at 1.1160 and it is unclear how it will develop for now, it's possible it will depreciate back below 1.1150.
 

mlawson71

Member
It formed an inverted hammer candlestick at the support 1.1130 on the daily time-frame and bounced off from it, apparently this was the end of the current depreciation.
 

mlawson71

Member
It dropped to 1.1100 as I thought it would but a breakout is yet to occur, which is still possible to happen by the end of the trading week.
 

mlawson71

Member
EUR/USD depreciated to 1.1085 and found some support there but it remains bearish for now so it will likely break out below that support.
 

mlawson71

Member
It's still testing the resistance at 1.3070 despite the signal for a move south, let's see whether will prove to be a false signal.
 

mlawson71

Member
It briefly broke out above 1.1150 but now it's back below that level, whether there will be a true breakout remains to be seen.
 

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