EUR/USD: 1-hour
Aha! It looks like a break-and-retest situation is goin’ on in EUR/USD’s 1-hour forex time frame! The pair just pulled up from a sharp dive to the 1.2835 area and has come close to testing the broken rising trend line on the same time frame. Price appears to be finding resistance at the 50% Fibonacci retracement level and may head back south soon, especially since stochastic is already moving down from the overbought region. Another selloff could lead to a test of the previous lows or perhaps the creation of new ones.
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