At the beginning of last week, we correctly anticipated the potential for a bounce in EURUSD, concluding that, “As long as rates stay above horizontal support at 1.2360, EURUSD could bounce back toward its bearish trend line near 1.25 in a potentially slower holiday week” (see “The Case for a EURUSD Bounce This Week” for more). Now, as we head into what promises to be a much more volatile and interesting week, the EURUSD may be poised for a breakout that could set the trading tone for the rest of the year. Of course, the first week of any month always offers high-impact economic data for traders to digest, but this ... (full story)