EUR/USD Price Analysis: Bears are lurking on the hourly time frame – by fx_ross EURUSD Technical Analysis
by 25 basis points to 92.4% when policymakers conclude a two-day meeting on July 26, the CME Group's FedWatch Tool showed on Thursday.We have seen the price rally from an area that could turn out to be weak lows. We have started to build up a long market from here and that leaves the length vulnerable to a squeeze for the days ahead. However, zooming in on the hourly chart, should 1.
The first three days of the week that reset as a new three-day cycle on Wednesday saw a blow-off from below-trapped volumes up high and we could be seeing the same phenomenon play out for Friday as illustrated above. A drop below the higher volumes and trendline support will target low-hanging fruit, LHF, below.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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