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Despite the dovish shift at the Fed’s first policy meeting of the year, which weighs on USD, a resurgence in concerns regarding US / China trade relations sees the USD strengthen sharply on still inflow. EUR, meanwhile, remains under pressure as Brexit uncertainty and a more somber tone from the ECB keeps sentiment skewed to the downside.
EURUSD Intraday Analysis
EURUSD continues to trade within the broad 1.1217 – 1.1569 range but has put in a lower high along the bearish trend line from running from the late 2018 highs, suggesting continued downside. Bears will eye for a break of the 1.1291 structural low and rising trend line with a break of the key 1.1217 level needed to signal a resumption of the downtrend.
GBPUSD Intraday Analysis
Following the recent topside break from the falling wedge pattern that had framed price action, GBPUSD has now traded back down to retest the broken pattern top, which for now is ho...
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