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US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY
It was a big week for the US Dollar and this may, possibly, be the opening that bears were looking for to take more control of the currency. I say that because, right now, the US Dollar is following a very similar pattern as 2022. Last year the US Dollar was driving throughout September trade to set a fresh 20-year high. But it was right around the Q4 open that the USD found resistance and began to stall, and that stalling, range-like action lasted for most of that month. By the time November rolled around, the ECB had started hiking more aggressively and the USD was on its backfoot after having set a lower-low. ... (full story)