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EUR/USD - Double Top vs. Rising Channel
Double top: Price action stalled at 1.3540 to start the week, and failed to break it again during the 11/19 Asian-European session. As we get into the European session and pre-US session, EUR/USD has cracked 1.35, as well as a support pivot around 1.3495 for a double top. (see 1H chart). Also note that a central pivot is at 1.3518, and if the market is going to respect the double top it should find resistance there upon a pullback. Otherwise, market is near-term neutral (consolidating between 1.3490-1.3540), with short-term bullish bias. Rising channel: The short-term bullish outlook is based on a rising channel with ... (full story)
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