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Euro Ahead of the ECB: EUR/USD, EUR/JPY
EUR/USD is working on a fresh 2024 low this morning with the pair testing below the 200-day moving average. Last week that indicator came in to help set the lows on Wednesday and Thursday. I had discussed this during the Wednesday webinar, highlighting the fact that support from the 200DMA could either help to establish the lows or provide a temporary pause point in the sell-off, at which point traders would want to read how bears responded to tests of lower-high resistance. There were a few clear spots for that to take place: The 1.1000 level that held the highs the week prior would be the line in the sand that ... (full story)