EUR/USD Classical 05.27
EUR/USD: Below 1.2145 exposes psychological barriers at 1.2000 further down. Ultimately, only back above 1.3100 would negate bearish outlook and give reason for pause. However, there is a risk of additional short-term corrective upside should we break above 1.2400 on Thursday. A break back above 1.2400 would open the door for a potential double bottom, with a neckline by 1.2670. If triggered, the double bottom would directly expose critical resistance by 1.3100 further up. For now, we remain sidelined.
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