The EURUSD formed a Doji formation on weekly chart indicating another indecisive week. Price attempted to push higher, topped at 1.3788 but whipsawed to the downside, bottomed at 1.3444 and closed at 1.3594 on Friday, not so far away from the opening price at 1.3615 on Monday. On h4 chart below we can see that price has break above the minor bearish channel indicating potential corrective bullish movement but the main trend should remain bearish. Immediate resistance to be watched in this potential bullish corrective movement is 1.3650 – 1.3750 area. Break above that area should trigger further bullish correction testing 1.3850. On the downside, initial support at 1.3400 area. Break below that area should trigger further bearish continuation targeting 1.3100.
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