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EUR/USD Consolidating Under 1.30
Bullish momentum: The EUR/USD has picked up steam since finding support at 1.2661 on 11/13. It has broken above a declining trendline from October. Price has pushed above some key resistance pivots, the 200-4H SMA (as well as the 200-day SMA), and the 61.8% retracement level. The 4H RSI reading has pushed above 70, showing possible nascent bullish momentum. 1.30: The recent bull run goes against the bearish swing since October, from a 1.3138 resistance pivot, but goes in the direction of a bull run from the Jul low of 1.2042, to September’s high of 1.3170. The bullish outlook therefore has some wind on its back. ... (full story)
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