Slope of Hope Blog Posts
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Watching the EUR/USD is interesting right now. Take a look at this chart:
What I see is:
(a) a break of a major ascending trendline, circled in red;
(b) an attempt at retracing to the broken trendline, circled in green;
(c) a failure of the horizontal line, highlighted in yellow, and a current attempt to retrace to that line
If the EUR doesn't make it past that horizontal line, and starts falling away, odds seem favorable for further weakness.