Is EURUSD on “double secret probation”?

Just checked out the weekly Goldman FX charts book that zero hedge manages to post every week. The March 24 edition of the chart book mentions that the EURUSD daily chart has recently put in a rare triple divergence. Given the note’s emphasis on how important a resistance level the 1.4280-4370 zone can be, if you are a EURUSD bull you may want to consider putting the EURUSD uptrend on “double secret probation”.

Looks like this Tuesday has a few data releases from Germany and France, maybe those will provide the market an opportunity to decide if it wants to break the EU to new highs or keep a lid on the EU with a c.1.4300 top.

 

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