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EURUSD resuming sharp reversal into 1.3140
EUR/USD is resuming its sharp reversal from key overhead resistance (primarily an important 2 year trend-line). The dramatic move has confirmed the emotionally charged bull-trap that we had anticipated, which has been driven by recent positive EU News. Key support is now holding at 1.3653 (18th Oct low). A sustained confirmation beneath here will unlock further downside scope into 1.3146 (Oct swing low) and that all-important psychological level at 1.3000. Further pressure is also weighing from broad risk-related proxies. The euro currently shares a high correlation of 0.85% with the S&P500 which is now falling ... (full story)
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