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The EUR/USD pair is in a short-term bearish trend, but this decline is corrective and soon we will see a reversal to the upside. I do not expect the price to break below 1.07.
Red lines - bearish channelEUR/USD is inside the bearish channel from the mark of 1.0970. The price is sliding lower inside the neutral area of the Ichimoku cloud. Only a break above 1.0950 will confirm a trend reversal on the daily chart. Only then we can feel more comfortable being long targeting 1.11-1.12.
EUR/USD is approaching the 61.8% Fibonacci retracement, which is an important support and we can see a trend reversal around this level. The next level of support is at the 78.6% retracement. Weakness is expected to be short-lived. I expect prices to reverse higher.Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.