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EUR/USD Bullish as it Approaches a Short-term Triangle Apex
EUR/USD was bullish last week, rallying from 1.2247 to 1.2495. Since then, it has been consolidating in what appears to be a short-term triangle in the 1H chart. As EUR/USD consolidates, it is maintaining the bullish bias and momentum in the short-term. 1) Price is holding above the 200-, 100-, and 50-hour simple moving averages (SMAs). 2) The SMAs are now sloping up and are in bullish alignment. 3) The RSI has tagged above 70, which reflects bullish momentum, and has held above 40, which reflects maintenance of this bullish momentum. Bulls in Charge: During the 12/15 session, we saw a strong outside bar push towards ... (full story)