The EURUSD is poised to spike higher

The EURUSD is in a prime position to extend the move up to 1.1240 and potentially beyond. Buyers seem poised and ready to squeeze out the recent sellers on a push up through 1.1200 even. If price breaks down through 1.1180 prior to a move through 1.1200, then we may see further downside. Watch for the higher low shoulder trade for the entry setup.

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