EUR/USD Classical 07.21
EUR/USD: Price action on Tuesday has also take the form of a very bearish outside day, with the market initially racing to fresh multi-day highs by 1.3030 early on and the reversing course sharply to take out Monday’s low and close lower on the day. The bearish outside day also managed to not only consume price action from Monday but from Friday as well. Look for a break back below 1.2835 to confirm bearish bias and accelerate declines. Inability to break back below 1.2835 would be concerning and delay any hopes for renewed weakness.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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