The EURUSD is at a crossroads. On the one hand, last week’s aggressive selloff combined with Monday’s close below 1.1900 looks bearish. And on the other, the EURUSD appears to have closed back inside a descending channel shown below. The pair did that on Tuesday. I told DPA members yesterday that I was buying the EURUSD, which at the time it was near 1.1885. I still have that position on today. However, so far, EURUSD bulls haven’t done much. The pair rebounded nicely from today’s low near that channel support, but they’re struggling to climb above the 1.1900 area. And there is a good reason for that. I … (full story)
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