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Christopher Lewis
EUR/USD daily chart, September 04, 2019

The Euro has broken down a bit during the trading session on Tuesday but is starting to rally during north American trading. At this point, it looks as if the 1.10 level above is going to be major resistance just waiting to happen. At this point, any rally towards that level should attract plenty of sellers, and therefore signs of exhaustion will be jumped upon. With that, I think it’s only a matter of time before we get an opportunity to start selling again, because quite frankly the European Union has a whole host of issues.

EUR/USD Forecast Video 04.09.19

The Brexit of course is the first thing you think of but we also have the Germans entering every session. At this point, I think it’s only a matter time before the we get some type of rally, but I also recognize that it’s only a matter time before we sell off again. This may be a bit of an oversold bounce happening, so selling closer to the 1.10 level offers an opportunity, just as I believe it extends all the way to the 1.11 level after that. Signs of exhaustion will be jumped on by me, just as a break down below the bottom of the candle stick for the trading session will be. I got no interest in trying to fight the trend, but I also recognize that we will get the occasional bounce so therefore you should look for value in the greenback.

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