Technical Analyst & Trader @ Vikinsa
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EURUSD returns below 1.0980 despite respectful rally
video EURUSD found buyers last week and turned up to re-challenge its recent swing highs. The bullish pressure, however, proved insufficient, with the price failing again to close above 1.0980 despite spiking to 1.1016 on Friday. On Monday, the pair started the session in the red and below the 50-day simple moving average (SMA), while also piercing the 1.0950 barrier underneath, which is the 38.2% Fibonacci of the upleg from 1.0635 to 1.1145. Should the bears finally dominate below that level, it is possible that the price may weaken towards the 50% Fibonacci of 1.0890, which is positioned slightly above the 20-day ... (full story)