Hello traders the Eur/Usd has had a tremendous trend up and has slowed down in the past week. Some key levels to watch are the resistance area of 1.4159 and support of 1.3700. Right now we are in a range between those levels. A break of either area could indicate further price movement in the direction of the breakout. If you want updates during the week make sure to follow me on Twitter.
On the 4hr chart we have a top at the 1.4159 level but the price does not get back up to that level. Look at the trendline I drew on the 4hr to show this movement.
If we look at a weekly chart you will see a doji which indicates that bullish momentum has currently slowed or stalled. However that is not an indication of a reversal yet. Because the momentum has not started to shift to the downside.
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