EUR/USD Weekly Technical Outlook: Euro Reversal Rips into Resistance

In this series we scale-back and take a look at the broader technical picture to gain a bit more perspective on where we are in trend. Euro has rallied more than 2% against the US Dollar since the monthly / yearly lows registered last week with the advance now targeting the first test of resistance. Here are the key targets invalidation levels that matter on the EUR/USD weekly chart. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

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EUR/USD Weekly Price Chart

EUR/USD Weekly Price Chart

Notes: In my previous EUR/USD Weekly Technical Perspective we stated that we were looking for exhaustion into the 1.13-handle where the November 2016 swing high converges on

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/scalping_report/2018/11/19/EURUSD-Weekly-Technical-Outlook-Euro-Price-Reversal-Rips-into-Resistance-Chart-Forecast-MBCS.html