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EURUSD Weekly

Nice morning star formation here on the weekly, the MA’s now seem flat leaving it vulnerable for price to push above. On the daily timeframe however, they have now crossed back to the upside which is a nice indication to future price in this forward thinking market.

With talk of the Fed Funds Rate reaching neutral and the negative data that came from NFP combined, it points to the dollar approaching some exhaustion giving the Euro a slight relief.

If price can edge back above the range highs seen on the 8hr timeframe, we believe euro will attempt to fulfill the duplicated range.

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