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EUR/USD Technicals – Price remain supported despite Monday Blues.

5 Min Chart

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Risk-off sentiment was prevalent on Monday Morning, bringing EUR/USD lower. Price suddenly surged higher during Europe Pre-Market hours, but fell back quickly below 1.2975 resistance, forming an Evening Star candlestick pattern in the process.

Hourly Chart

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From the Hourly Chart, bullish momentum does not appear to be slowing down with price bouncing off L3 and the rising trendline with ease. However, 1.299 – 1.30 continues to act as overhead resistance, potentially forming an upward triangle should price continue to respect the upward trendline.

 

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