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EUR/USD Pops up Above 1.35 to Test Declining Channel Resistance
The EUR/USD has been consolidating since the start of the week. Here in the 11/30 US session, we have a very sharp corrective rally. This moves the pair above 78.6% retracement at 1.3490, and broke the 1.35 psychological resistance. This sharp move also pushes above the 200SMA, the 1.34 resistance cluster, and now above 1.35. The strength of today’s rally suggests a bottom to the November bear cycle. But looking at the 4H chart, we still have one more key resistance to break to consider to scenario. We are still trading within a declining channel, with resistance near 1.3550 which is also the level of some common ... (full story)
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- ssshhhh
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