EUR/USD Consolidating at Former Trendline Support
Chart Prepared by Jamie Saettele, CMT
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-EUR/USD may be preparing for a substantial mark-up as noted in this weekly report. Near term, the line that extends off of the May and July lows could serve as resistance (we’re there now). As noted over the last several weeks, I’m employing 1.11 (late May low and close to Brexit day close and 200 day average) as the bull/bear dividing line. SSI has flipped to negative, which is viewed as a positive for price.
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