EUR/USD Classical Technical Report 01.13
EUR/USD: The recent break back above 1.2820 has triggered a double bottom on the daily chart, which opens additional corrective activity from here back into the 1.3000-1.3200 area over the coming sessions. Ultimately however, we retain a bearish bias and would be looking for opportunities to fade rallies in favor of underlying bear trend resumption and the next major downside extension below 1.2500.
--- Written by Joel Kruger, Technical Currency Strategist
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