BOAFX

LONG EURUSD

Long
FX:EURUSD   Euro / U.S. Dollar
On the weekly chart, you can see strong support. The recent pin bar suggests that we should see buyers again attempt to push the price back up to the emerging declining trendline and possibly a new high. If we break the support level then further downside is likely. The COT report shows a jump in longs on the EURO for commercial traders, an indication that sellers are running out of steam.

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