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EUR/USD showing initial signs of strength
EUR/USD has stood out this week, with the euro resisting the dollar strength that has dominated other pairs. The bullish wedge we have seen form throughout the week has clearly respected the crucial $1.1715 support level. With the price having broken through the notable $1.1770 resistance level, there are initial signs that we could see the pair reverse higher from here.
Once more, the stochastic is showing us that momentum is not on the side of the downtrend. With that in mind, it looks more attractive to go long unless the price breaks below $1.1704 support.