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EUR/USD Weekly Review 24 Jul 17

Good day forex traders.

I mentioned last week on the possibility of a bullish trend should the current major resistance be breached. This is important as we are looking at thousands of pips on the upside. I would like to provide a quick update.

Looking at the weekly chart of the EUR/USD currency pair, we note that the upper resistance may be crumbling any time soon. The current price action is at the top region of the previous peaks.

Over in the US, there are recent talks that while the US economy improved, it is still facing challenges. This is significant as sometime sentiments may take a foothold.

Do trade well in the week ahead.

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