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Forex: EUR/USD forms a false break at 1.32 - 2ndSkies

FXstreet.com (Barcelona) - After unraveling its day range by breaking through 1.3130 on Tuesday and 1.32 the next day, EUR/USD failed to sustain the bullish momentum through the last US session, with the rate closing at 1.3175 after a 1.3240 high.

As Chris Capre, founder at 2ndSkies, notes: "EUR/USD formed a false break and pin bar signal. The false break is from the prior 2-bar swing high on the 16th/17th which was at 1.3199, with today’s high peaking at 1.3242, but closing at 1.3178."

"Sell signals between 1.3200 and 1.3242 are a decent play for bears, while a break above this puts 1.3300 in focus. However more bearish selling from here will put 1.3100 up first, then 1.3000, so some decent downside as well" Chris added.

Forex: EUR/JPY remains quiet as range bound behavior continues

The EUR/JPY was fairly quiet today, closing up 5 pips at 128.26. Given the volatility in other assets such as commodities and equities, it was interesting to see the pair continue to trade in such a narrow range. Earlier this evening, the Bank of Japan released minutes from their latest meeting. Currently, the pair is slightly lower in Asia trade, down 25 pips at 128.10.
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