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Weekly Forex Forecast (November 20 – 24, 2017)
Despite boasting some of the best technical levels, the EURUSD was a tough one to trade last week. The October 26 close below the 1.1670 handle was a significant development. Not only did it break the key support level, but it also confirmed what appeared to be a head and shoulders reversal. However, Euro bulls had other plans. The November 14 rally took out stops above the 1.1670 area and went on to close the day 125 pips above the key level. That too was a significant development. It signaled that sellers no longer had control, which had been the case since the September 8 bearish pin bar from 1.2040. From here ... (full story)