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Weekly Forex Forecast (January 21 - 25, 2019)
EURUSD had looked promising from a bullish standpoint. The breakout on January 7th signaled that falling wedge resistance from the April 2018 high would become support going forward. It did for a while, but buyers couldn’t keep the pair afloat last week. The close back below the wedge top just below 1.1400 signals that sellers have taken back control. It also exposes the 1.1300 support area with a close below that opening the door to the 2018 low at 1.1215. Of course, there’s always the chance that last week was a false (bearish) break. But it’s going to take a daily close back above 1.1390 to confirm it. For ... (full story)