EURUSD Failing To Breakout Higher

The euro is posting only some modest gains on Tuesday as price rose over 0.50% intraday.

Following the breakout off the previous pivot highs near 1.0947, the euro stretched the gains to highs of 1.0971 before pulling back slightly.

However, as long as the previous level of 1.0950 holds, we expect the upside bias to hold.

The current momentum remains somewhat weak, which puts the upside gains towards 1.1030 into question.

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“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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