Morning Technical Newsletter EUR/USD
The price has continued to look bearish since then, being held down by another bearish trend line shown in the price chart below which has had three touches. There are many resistance levels piling down on top of the price, and the short-term price action also looks bearish, in line with the long-term trend. For all these reasons, I have a bearish bias today, but as the U.S. is on holiday there may not be a great deal of price movement. Another interesting point is the divergence we are seeing between the Euro and the USD, which is looking quite strong.
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