The Euro advances for the second consecutive day and cracks strong resistance provided by the base of thick daily cloud (1.0569) reinforced by converged daily Tenkan-sen/Kijun-sen. Recovery was already rejected under the cloud base last week, as cloud heavily weighs on the single currency and adds to negative fundamentals. Strong dollar’s safe-haven appeal and support […]

The post EUR/USD: Recovery Continues to Face Strong Headwinds from Thick Daily Cloud appeared first on Action Forex.