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  2. Today is the final day of a medium-term cycle turn window in EUR/USD. We have been looking for a correction to materialize given the clear and somewhat extended trend leading into it. So far this has proven rather illusive, but a clear failure today at key resistance between 1.3830/95 could quickly change things. The 1.3740 area looks like a near-term pivot with weakness below needed to confirm that a minor top is in place. Continued strength in the Euro into the middle of the week would invalidate the cycle window. The next cyclical window of importance looks to be around.
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