Sideways activity for nearly a week after the rebound stalled ahead of modest resistance at 1.1515/20 and we see negative pressures whilst below the trend line from late 2014 (at 1.1425) for a roll back lower into early February.
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A head fake bounce through minor resistance at 1.1639/50, but a stall ahead of trend line resistance, now 1.1705 to leaves risk for a roll back lower to the basing range and to leave a negative bias for latter January.
The push to yet another new setback low Friday reinforced the break Thursday below the 2005 low at 1.1641 that pushed EURUSD to its lowest level in 11 years!!