At this time last week, I was discussing the potential of a EURUSD bounce. The single currency had just tested the April 2017 trend line near 1.2240 and looked ready to move higher toward the 1.2440 area. Although buyers did push prices higher last week, they ran into a wall of sellers above 1.2360. With neither buyers nor sellers taking control just yet, this twelve-month wedge pattern could go either way. The short-term trend is up which suggests a break higher, but of the two trend lines below, the one from 2008 has more substance. I’m going to continue to hold off on trading the EURUSD for now. It’s going to take ... (full story)