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Euro Technical Forecast: EUR/USD Bears Defend Yearly-Open Resistance
Euro attempted to breakout of the October opening-range yesterday only to be thwarted the following day with EUR/USD exhausting just ahead of yearly-open resistance. The broader outlook remains tilted to the downside for the Euro with major event risk on tap over the next two-weeks. These are the updated targets and invalidation levels that matter on the EUR/USD weekly technical chart. Technical Outlook: In last month’s Euro Technical Forecast, we noted that EUR/USD had, “stretched into the yearly range lows this week and while the risk remains weighted to the downside, the bears may be vulnerable into the Q4 ... (full story)