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EURUSD Technical Analysis – Primed for a Breakout?

EURUSD Technical Analysis – Primed for a Breakout?
On the daily chart below for EURUSD, we can see that the price has tried multiple times to sustain a breakout of the 1.1033 resistance, but until now all tries have been unsuccessful. The buyers keep leaning on the red long period moving average hoping that at some point the resistance will give way, but the sellers are defending the level strongly. The bullish momentum is weak though as depicted by the divergence with the MACD, so the buyers will need a strong bullish catalyst to succeed. Watch... Read More
Posted: May 9 2023, 08:24
Author Name: forexlive
Views: 081716

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