EUR/USD: After hitting a bottom of 1.1788, the pair bounced back to the 1.1850 levels. It is opined that investors are concerned about the outcome of the US fiscal deal. The US NFP due for release today will also be in the focus.
Indicators point towards a bearish trend – the MACD histogram is red and signal lines have dipped below the midpoint. The RSI is also remarkably close to the oversold area. For one interesting thing is how the price have recorded a higher low and the indicator a lower low wave – forming a bullish failure swing and indicates that the price might take a breather and move upwards.
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