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US Dollar Price Action Setups: EUR/USD, USD/JPY Breakdowns
On the 11th day, it broke… EUR/USD had held support at the 1.0500 handle for 10 days and yesterday, I highlighted pullback potential in EUR/USD, USD/JPY and the US Dollar. That did not happen for either EUR/USD or USD and it looks like a breach of the 1.0500 level triggered stops that added fuel to the fire as the pair tumbled down to fresh five year lows this morning. The next spot of support is the 1.0340 level which was the low in January of 2017. chart EUR/USD: The short side of the euro could be a difficult pair to chase. But, on the other side, there’s no sign yet that bears are done so reversals can be ... (full story)