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EUR/USD forms bullish pattern under key resistance

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD has consolidated within the past week just under a major resistance zone around the 1.1450-1.1500 area. In the process, the currency pair has formed a key bullish flag pattern that could be poised for a breakout if the dollar continues its recent weakening trend. Within this consolidation, EUR/USD hit a new six-month high last week at 1.1453, a price level that has not been reached since mid-October. The current consolidation is the latest culmination of a rising trend characterized by

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