EUR/USD Technical Evaluation: Euro Sellers Problem Uptrend
EUR/USD TECHNICAL ANALYSIS: BEARISH
- Euro difficult 3-month development help, break could restart downtrend
- Previous development dynamics suggest drop towards 1.07 if promoting strain prevails
- Dense near-term resistance presents problem for tried restoration
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The Euro finds itself at a decisive spot, sitting squarely at help guiding the upswing over the previous three months. A break under it and the 1.1069-1.1104 congestion space would counsel the dominant downtrend has been resumed. The primary layer of help thereafter strains up within the 1.0968-90 zone, adopted by the October 1 swing low at 1.0879.
Which may be just the start nevertheless….