EUR/USD: The break above 1.2991/3013 was not what we had in mind calling for a turn lower yesterday. The following break of 1.3033 has also made damage to the short (but not the longer) term bearish outlook. A small bull flag seems to have been created since yesterday’s high point so at least one more corrective high (1.3071? 1.3146?) to be pencilled in before an attempt to resume the underlying bear trend. Resistance 1.3062 1.3071 1.3146 1.3194. Support 1.3006 1.2990 1.2978 1.2934.
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