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EURUSD – Euro/dollar bearish momentum continues
Following our weekly market commentary this week, in which we discussed looking to sell the EURUSD on any strength, we can see in the charts below that the market broke lower today after a brief retrace higher early this week. Clearly, bears are very much in control of the EURUSD right now and it has potential to move even lower, perhaps into parity. We have been short biased and been advising members to sell on strength and we are still committed to that same view. Traders can watch any retraces higher / strength for selling opportunities to get short and trade in-line with this very weak market.
EURUSD weekly chart –
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