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Euro Short-term Technical Outlook: EUR/USD Tempts Trend Support
The Euro is poised to snap a four-day losing streak with EUR/USD trading into the objective 2024 yearly open on heels of today’s ECB rate decision. Price has plunged nearly 1.8% off the yearly highs with a reversal off uptrend resistance now searching for support. Battle lines drawn on the EUR/USD short-term technical charts ahead of the Fed. Technical Outlook: In last month’s Euro Short-term Technical Outlook we noted that a reversal off uptrend resistance in EUR/USD was testing the August support slope. We cited that the, “immediate focus is on this pivot zone near the December high-close at 1.1105 and ... (full story)