As the dust settles from Trump’s divisive inauguration speech, let’s take a look at how the majors are shaping up.
EUR/USD’s recovery is likely to be tested this week.
Prices have been rotating higher since the turn of the year, forming a bullish support line. However, the market is now heading up into a thick zone of resistance defined by December’s highest high (1.0873) and highest close (1.0763).
While the resistance zone is compelling, it’s important to remember that short-term momentum remains bullish. That said, we will only look to short EUR/USD following clear signs of buying exhaustion… full story by investing.com