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EURUSD to Remain Vulnerable Below 1.1400
I mentioned the 1.1340 to 1.1380 resistance area for EURUSD last Saturday. That’s the intersection of a trend line from the October 2019 high and the top of an ascending channel from March 27th of this year. Despite their best efforts, EURUSD buyers failed to break 1.1380 this week. We saw the pair test the area several times, but it never closed above it. Furthermore, a familiar pattern (at least to DPA members) developed over the last few days that hinted at weakness. The 4-hour upward sloping flag above suggested that buyers were tiring. That’s especially true when you consider the repeated retests of channel ... (full story)