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EURUSD Breakdown Sets Up Selling Opportunity
Over the past 24 hours, the EURUSD has closed below trend line support and retested it as new resistance. We looked at this level a couple of times last week including during Thursday’s session. Just hours into the start of the new week, the single currency surrendered the support level on a 4-hour closing basis. I mentioned the breakdown in the member’s area nearly 24 hours ago. The EURUSD then went on to test the 1.1875 area as new resistance (see chart below). It seems the pair is finally behaving after several days of indecisive price action. As long as sellers maintain sub 1.1875 prices on a daily closing ... (full story)