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Pairs in Focus This Week: EUR/USD, Gold, GBP/USD, USD/JPY, Oil, USD/CAD, AUD/USD, NASDAQ 100
The EUR/USD initially shot higher during the week, bolstered by the post FOMC reaction, as traders decided that the Federal Reserve may start to slow down. Quite frankly, that has been beaten back, now we have formed a massive shooting star in the weekly chart. This suggests to me that any time the Euro starts to rally a bit, you will more likely be rewarded for finding some type of exhaustion that you can sell into. The 1.05 level underneath is a hard floor, but if we were to break down below there it could open up the floodgates. chart Gold markets have fallen quite drastically during the trading week, only to ... (full story)