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Thomas Long, Course Instructor


Last Friday this pair moved lower than the lowest low of 2009 and appears to be in the mood to test that low once again. A move down through that 1.4733 low would confirm the strong downtrend and open the door to more potential selling. The theme of the week seems to be AUD strength along with EUR weakness, so we should look to take advantage of this relationship as long as it lasts.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.