The market reached a strong resistance zone and pulled back. EURUSD is ranging around the upward trendline, and I think the price will break through it. Price action formed a doji candle on the daily timeframe. This suggests that the price may move sideways, forming a triangle pattern. I expect a potential breakout of the channel because the market rebounded from the resistance before it made a fake breakout of the level. I will wait for another rejection of the resistance and sell the market if the signal present itself.
📊QUICK FUNDAMENTAL LOOK
The dollar edged broadly higher on Monday as risk appetite remained subdued ahead of a key U.S. inflation report later in the week that is likely to provide further clarity on the Federal Reserve's monetary policy outlook.
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