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EUR/USD Attacks Counter-trend Trendline
Despite breaking below some key supports at 1.3020 and the psychological pivot at 1.30, the EUR/USD is now looking at a bullish continuation scenario. The bounce from 1.2974 was very sharp in the 2/16 US session, and has followed through in the Asian and European session. As we gear up for the last session of this week (2/17 US), the EUR/USD’s rally is up against a counter-trend trendline. There are some other resistance factors here in that we are near 61.8% retracement at 1.3188 and the RSI is nearing 60 after it has kissed 30. Resistance here and a push back below 1.31 should be a sign that the bearish outlook ... (full story)
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