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EURUSD – Quite the Peculiar…
After starting a pretty strong uptrend back on the 17th of Jan., price was hovering around 1.2650 before it launched up almost 700pips in less than a month gaining 66% of those days. Price then consolidated between 1.3040-ish and 1.3224 for 7 days but then broke out with a vigor suggesting likely sustained break which can be seen in the chart below.
But then things got a little peculiar. First off, the breakout bar although strong and closed near the high, had very little clearing distance suggesting it may not have taken out the stops above nor given the market confidence it had done enough damage to the bears. Then, it formed a doji as …... Keep reading