Forex Opinion & Analysis

EUR/USD Breakout

Bearish

USDX is bullish and uncommitted at the time of this post. EUR/USD hasa bear flag pattern (bearish) in play so should now see the resumption of the channel to the downside. We are looking for a continuation to the ATR Target at 1.1783 area. Watch the USDX for any change in direction. The ATR for the pair currently is 54 pips per day but it’s 180 day average is 61.EUR/USD Breakout

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