Is the EUR/USD About to Jump, While the AUD/USD Drops?
Good day!
The EUR/USD has repeatedly tested the 1.0778 supporting level, closing Friday with a bullish engulfing pattern. Should the large triangle get broken through, the asset could potentially jump:
Based on the latest data by COT CFTC, large operators keep expanding the long positions on Euro for the 7th week in a row:
The price of Australian currency has closely approached the daily downtrend. From here the currency pair could potentially drop. If the downtrend gets broken, the asset might also test the 0.6700 level. All in all, it is wise to follow the candlestick formations:
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