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  • Combine some modest Dollar strength pre-FOMC and a slide from the Sterling after its run of data and $GBPUSD looks like it is tempting fate on a head-and-shoulders pattern. Dubious of follow through until tomorrow though https://t.co/jofJwvwwEu
  • Heads Up:🇺🇸 Industrial Production MoM (MAY) due at 13:15 GMT (15min) Expected: 0.6% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-06-15
  • Heads Up:🇺🇸 Industrial Production YoY (MAY) due at 13:15 GMT (15min) Previous: 16.5% https://www.dailyfx.com/economic-calendar#2021-06-15
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  • 🇺🇸 PPI MoM (MAY) Actual: 0.8% Expected: 0.6% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-06-15
  • 🇺🇸 Retail Sales Ex Autos MoM (MAY) Actual: -0.7% Expected: 0.2% Previous: 0% https://www.dailyfx.com/economic-calendar#2021-06-15
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  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/xJJnXsP6RX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 74.05%, while traders in France 40 are at opposite extremes with 79.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/uo87CsYt4z
EUR/USD Classical Technical Report 03.13

EUR/USD Classical Technical Report 03.13

Joel Kruger, Technical Strategist
Daily_Classical_EURUSD_body_eur.png, EUR/USD Classical Technical Report 03.13

EUR/USD: Last Friday’s aggressive pullback strengthens the prospects for the end of a corrective move in 2012 which has in fact stalled just ahead of 1.3500. From here, the risks are tilted to the downside and a break below next key support by 1.2975 will be required to officially put the pressure on the downside and open an acceleration of declines back towards the 2012 lows at 1.2620. At this point, only a break back above 1.3300 would alleviate downside pressures and delay outlook.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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