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US Dollar Showing Signs of Technical Weakness
In this webinar, we used technical analysis and namely, Elliott Wave Theory to identify trends to watch out for in 2017. Three market in particular (EUR/USD AUD/USD and USD/CAD) are showing symptoms of US Dollar weakness coming. First of all, in last week’s webinar we discussed how the pivot near resistance in EUR/USD on December 30 creates an important technical level. The high on December 30 was 1.0654 and if this high gets taken out, then we’ll begin to shift our bias towards the long side. Last Thursday’s price action did clean out 1.0654 so we are favoring a bullish move higher toward 1.0875-1.1000. ... (full story)