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USD is Inside the Box: EUR/USD, GBP/USD Showing Divergent Trends
USD is trading in a Box Pattern: The past five days of price action in the US Dollar have been fairly similar, as the Greenback has struggled to punch through a pivotal resistance level at the 11,960 level on the Dow Jones FXCM US Dollar Index. This is the level that had provided the high two weeks ago, and while getting slight penetration through this resistance level, price action has struggled to surmount further gains beyond this level. This type of price action will often show when macro themes are fairly priced-in to the market or as we await that next batch of news or motivation to move prices higher or lower. ... (full story)