€/$ at the crossroads. NOK/SEK making way north

EUR/USD: Something’s gotta give way. There’s not much room left to maneuver in without breaking below the floor of the bear flag (preferred scenario) or returning above the 55d ma band/July trend line. With the very bearish weekly candle three weeks ago being the latest major signal a downside break remains the favored outcome. Should we however pop up above the resistance well then the mid body point of the falling weekly

Read the full report: Technical Alert

 

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