EURUSD: The outlined touchdown took place a few points above the ideal turning zone, 1.2258-29. The ECB induced move higher became very impulsive as weak shorts began running for the exit. At one point, above 1.2391, the pair was even in a bullish key day reversal status which later on was rejected. Today’s key focus will be to see whether the weekly close comes in above or below 1.2358 (spring bottom or not?). If believing in more upside potential then the 1,2340-60 area represents a buying zone.
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