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EUR/USD Technical Outlook: Trading Around Long-term Resistance Levels

November 15, 2022

Via: DailyFX

Last week EUR/USD exploded higher on the US CPI release, and with the surge the outlook for a bear-flag to continue developing went out the window. Heading into the release it was a scenario I had painted, and was clearly a wrong one.

The good news is that without the full development of the sequence as described, no official trigger ever took place and thus no position established. Where does this leave us now? The rally has taken the Euro into an interesting spot from a macro standpoint.

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