Market is not random but unpredictable
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EURUSD Trades Above Key Support Ahead of Thursday’s ECB
The EURUSD is holding above key support ahead of Thursday’s ECB decision. The confluence of support at 1.1075 is the same one we’ve discussed since December 27th of last year. It’s also the area that needs to break down for the EURUSD to regain its bearish momentum. As long as the pair is above it on a daily closing basis, the short-term uptrend is intact. But as I’ve stated for weeks, I’m more interested in the eventual breakout than I am in this sideways movement. Notice how the EURUSD has made little to no progress over the last few months. One event that could trigger a breakout is Thursday’s ECB ... (full story)