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EURUSD – Engulfing Patterns and Bearish Confirmation
As mentioned yesterday (EURUSD – Greek Deal Prompts Bearish Move), the euro appears to have moved back into a bearish phase against the dollar, with the Greek “deal” potentially removing one risk event and bringing attention back to the Fed rate hike. Yesterday we got our close below Friday’s opening level which is suggested yesterday would make the move even more bearish than it already appeared. This may have been added to again today, with the pair having rallied earlier but failed to break back above the prior trend line support. This acts as confirmation of the initial break. The pair has since retreated ... (full story)
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