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EUR/USD: Head Fakes Higher For Roll Lower?

EUR/USD: Head Fakes Higher For Roll Lower?

EURUSD head fakes higher for roll lower?

  • Despite a bullish outside pattern to probe above the 1.3295/00 topping area from June, the subsequent setback into Thursday has indicated this as a potential head fake higher/ bullish failure to still point to a more negative early August range bias
  • Inability to re-energize above 1.3345 today would favour a move back towards minor range support 1.3170/50.
  • Through here targets 1.3000/2990.

WHAT CHANGES THIS?

  • Downside: Only below 1.2990 sets a more defensive range theme; a break of 1.2890 would re-energize downside pressures through 1.2750/45
  • Upside: Above 1.3345 would signal a more positive tone and aim to and likely through 1.3416/34 peaks for 1.3505/20.

Please see latest audio-visual analysis here:

EUR/USD” width=”1032″ height=”774″>

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