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EURUSD Poised to Test 200DMA After 50DMA Rejection

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Euro / U.S. Dollar (FX:EURUSD)  
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FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators EURUSD USD DXY dollar euro currency SPDR S&P 500 ETF (SPY) VIX CBOE Volatility Index US10Y
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trendanalysis chartpattern indicator eurusd usd dxy dollar euro currency spy vix us10y
US Markets are experiencing a technical bounce on Monday after last weeks Bullard spook/Fed hawkishness on Wednesday. EURUSD looks poised to test the 50DMA as early as today, but according to polarity principle, we should see a rejection if we do, and a continuation of the recent downtrend (toward the 200DMA around 1.157). At the same time, I expect the 50DMA on the S&P to hold up as resistance - inplying a risk off move into the close. Let's see what happens next...

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