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EUR/USD 6/14 – Anticipating Consolidation Resistance
The EUR/USD is essentially trading in a sideways market since the end of last week, flattening the corrective rally that started June 1. The rally is still below a couple of recent resistance pivots near 1.2630 (last week’s high) and then 1.266 (this week’s high).Since testing a recent support pivot near 1.2440, the EUR/USD has been bullish through the 6/12 and 6/13 session into the 6/14 session. Looking at the 1H chart, there is a consolidation pattern held just under the 1.26 level but the market also is holding above a rising trendline seen in this time-frame. So far, it looks like price action is respecting ... (full story)
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