I wanted to make a post on this pair because EURUSD has been in an interesting spot lately, or I should say a few spots. The market was displaying to me that it was due to the fact that many different people had their outlooks on this pair therefore it led to indecisiveness in this currency pair. If you look at this daily time frame here the 1.15500 handle has been very significant level for price action on this pair. Since May of 2018 (this year) price has been holding above those levels. On August 10th of this year it attempted to break those levels but price ran right back above structure showing us a fake out. This is where the market started showing signs of indecisiveness and hasn't been able to break above the 1.17500-1.17800 price area. THEN recently price dropped from the 1.17800 area down UNDER the 1.15500 level. SO based on what the market has recently been showing me is that price has come down BELOW the significant 1.15500 handle that it had been holding above and HAS NOT ran right back up yet. I want everyone to keep an eye on this pair because it's in a significant spot right now and if price holds beneath this level and shows us some strong seller interest then we may see a more long term drop on this pair. Keep an eye out on this pair and I will to continue giving updates throughout the week on it.
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