Is The Euro Setting Up For A Rebound?


The euro managed to recover slightly into Friday’s close, but is still down over 7% from the 9th of March close of 1.1470.

Price action on the 4-hour chart shows a double bottom pattern in place. This suggests a possible upside breakout.

The bullish divergence also builds up to the upside bias.

A breakout above 1.0788, could see a move to 1.0907 area. Watch for a higher low to validate this bias.

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About the Author
“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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