Euro / U.S. Dollar
Short
Updated

EUR/USD Eyeing US$1.07

119
With price action on the monthly timeframe rejecting the underside of the 50-month simple moving average (SMA) at US$1.0927 and daily price recently completing a double-top pattern from the lower edge of said SMA (breaching the neckline taken from the low of US$1.0823), EUR/USD (euro versus the US dollar) bears will likely remain on the offensive until the pattern’s profit objective at US$1.0692. Given this, and seeing H1 price action recently fade resistance at US$1.0781, this could see the unit aim for US$1.07 the figure.
Trade active
Quite a run on stops above H1 resistance.

It will be interesting to see if this was enough to grab sufficient liquidity to push lower.

AH

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