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  • The Euro’s Friday rally has seen the EUR/USD drift into a high-risk turnaround zone with key resistance points scattered from 1.1750 to 1.1790, leaving the major pair open to an extended slide back into recent lows.
  • The economic calendar for Monday is a thin affair, and market sentiment is squarely in the driver’s seat.
  • Daily candles have the pair constrained in lower highs and higher lows, and traders should keep an eye out for decisive breaks in either direction to determine a new medium-term trend.

EUR/USD Chart, 15-Minute

Spot rate:   1.1735
Relative change:   0.10%
High:   1.1750
Low:   1.1720
Trend:   Strong potential for pullback
Support 1:   1.1683 (38.2% Fibo retracement level)
Support 2:   1.1625 (Friday swing low)
Support 3:   1.1574 (previous week low)
Resistance 1:   1.1750 (current day high)
Resistance 2:   1.1790 (two-week high)
Resistance 3:   1.1878 (R3 daily pivot)