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The US dollar was weakening in today's market action. Based on our latest technical bias, we'll be positioning ourselves to get into long US dollar positions this week.
Another trend score from Smart Scan Chart Analysis also confirms that positive longer term is weakening for EUR/USD. The market action could signal the start of a major trend change. Hence a weak uptrend. See the statistics below:
Based on a pre-defined weighted trend formula for chart analysis, EURUSD scored +65 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
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