The EURUSD attempted to push lower last week bottomed at 1.1289 but whipsawed to the upside and closed higher at 1.1404. The Major Bearish Trend remains valid but price is still in a consolidation phase. The bias is bullish in nearest term testing 1.1500 – 1.1570 key resistance area which is a good place to sell with a tight stop loss as a clear break above 1.1570 would invalidate the major bearish trend. Immediate support is seen around 1.1380. A clear break below that area could lead price to neutral zone in nearest term testing 1.1335 but key support remains at 1.1270 – 1.1215 region.
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