The EURUSD 1.3150 pivot area ultimately held as support on Friday, after a week which had the currency pair drop from 1.3433 – 1.3144, covering 123% of the AWR (average weekly range) over 26 weeks. The price action following the Fed policy meeting minutes on Wednesday, with divergent policy maker views on QE, brought a trend line breakout (see the D1 chart below), and two heavily bearish days. Friday had the euro/dollar closing near the days open and consolidating recent losses, after covering 100 pips, 117% of the 60 day ADR (average daily range). Euro/dollar 1.3150 area has been a major zone for EURUSD and the ... (full story)