The EURUSD initially shot higher during the week, bolstered by the post FOMC reaction- trading forextrading
initially shot higher during the week, bolstered by the post FOMC reaction, as traders decided that the Federal Reserve may start to slow down. Quite frankly, that has been beaten back, now we have formed a massive shooting star in the weekly chart. This suggests to me that any time the Euro starts to rally a bit, you will more likely be rewarded for finding some type of exhaustion that you can sell into. The 1.
market went back and forth during the course of the week, rallying all the way to the 200-Week EMA, before showing signs of exhaustion. If the market breaks down below the bottom of the candlestick, then it’s likely that WTI will drop down to the $60 level rather quickly.
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