EUR/USD – Another Invalidation of Breakout

On Friday, the euro extended losses against the greenback and closed the week under the previously broken long-term support/resistance line, invalidating the earlier breakout. Will this negative development encourage currency bears to act in the coming week? In our opinion, the following forex trading positions are justified – summary: EUR/USD: short (a stop-loss order at 1.0967; the initial downside target at 1.0521) GBP/USD: short (a stop-loss order at 1.2738; the downside target at 1.2157) USD/JPY: none USD/CAD: none
The Market Oracle

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