EURUSD could not carry last week’s impressive rally above its 200-day exponential moving average (EMA), but the 50-day EMA helped the pair to hold within the 1.0700 zone and above its previous high. The market structure is positive in the short-term picture as the pair keeps fluctuating within a bullish channel. Hence, even if downside pressures resume, the pair will remain attractive unless it exits the bullish formation below 1.0600. If that bearish scenario unveils, selling forces could intensify towards the 1.0500 mark. Then, additional losses from there could retest October’s low near 1.0450 and the 1.0400 ... (full story)