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EURUSD - Daily Euro / US Dollar FOREX
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Get the Win Win Forex Trade in Short Term.
 
Take a look at EUR/USD. If the Friday rally in the greenback was one  short squeeze, then we've seen the bottom in the U.S. Dollar Index and it's at 79.06. But just because the buyers have found a floor to defend, does not mean the momentum have enough for an uptrend?
 
The U.S. Dollar Index could not find bullish momentum through the 81.00 level and this bodes well for an exhaustion fade off this resistance at the range extreme.
 
Traders will willing to rally through 80.00 but the all-out assault has thus far fell short of a convincing trend reversal and that mean not only the 81.00 major psychological level but also the 50 Day Moving Average .
 
The U.S. Dollar Index could not find bullish momentum through the 81.00 level and this bodes well for an exhaustion fade off this resistance at the range extreme. Traders will willing to rally through 80.00 but the all-out assault has thus far fell short of a convincing trend reversal and that mean not only the 81.00 major psychological level but also the 50 Day Moving Average in front of it.
 
When Eur/USD tested the 1.3450 level it rebounded above the 1.35 handle. Although the current move has yet to show the strength to test 1.3520, the market is still within the "doldrums" of the trading day as the Asian session has yet to get underway. Remember that the Japanese market will be opening for the week with this session.
 
There are two ways to play a weaker USD and stronger Eur/USD.
The first would be the fade off of today's today or more aggressively off the 1.35 level.
 
Alternatively, a Wave Reversal entry long can be taken with a 1.3520 breakout with at least a +100 reading on the CCI (20period). This would be a more nimble intraday trigger with a stop loss at 3490.