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Daily Forex Technical Strategy
EUR/USD – Residual bounce before risk of new drop. The pair has shaped expected bounce within the minor “bearish flag” ascending range configuration in place since 16 Aug 2019. Rang top/resistance of the “bearish flag” remains at 1.1120/1130 (click here to recap our previous report). Maintain bearish bias in any bounces below 1.1170 key short-term pivotal resistance for another potential downleg to retest the 1.1025 near-term support in the first step. However, a clearance with an hourly close above 1.1170 negates the bearish tone for an extension of the corrective rebound towards the next resistance at ... (full story)