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EUR/USD – Trading at Multi-Year Resistance (Weekly chart)
After a strong bullish impulsive move this week the EUR/USD now is trading very close to the major multi-year resistance zone mentioned several times in our prior commentaries.
This resistance zone, which starts around 1.1400, should be a very attractive zone for sellers, along with some bulls taking profit at these values. We therefore think there is a solid probability of a strong reaction off this zone.
In case of a successful rejection from this level, the next support levels and potential targets are coming in at 1.1250 & …... Keep reading