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Technical Outlook and Review
EUR/USD concluded Thursday pretty much unchanged, but did manage to chalk up a bearish outside formation on the daily timeframe. The US dollar index continued to reign supreme, weighing on the euro and picked to approach 100.00. The H4 candles continue to echo a bearish stance, capped at the underside of the 1.08 handle and forming what appears to be a broadening pattern (blue lines). Technically, we now also have weekly price crossing paths with channel support, taken from the low 1.1109, after engulfing the 2016 yearly opening level from 1.0873 last week. Daily flow, on the other hand, has price trading below ... (full story)