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02.04.202014:03 Forex Analysis & Reviews: EUR/USD analysis for 04.02.2020 - Broken support at 1.0923, potential for bigger drop towards the level of 1.0640

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Corona virus summary for Europe:

Spain death toll passes 10,000 with record single-day rise of 950

Spain's coronavirus death toll rose to 10,003 on Thursday, up from 9,053 on Wednesday, an increase of 950. On Tuesday Spain had recorded 864 deaths related to coronavirus, its previous highest figure.

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Technical analysis:

EUR/USD has been trading downwards. The EUR did break the important support at the price of 1.0923, which is good indication that sellers are in control and that we might see further downside movement.

Watch for selling opportunities with the downward targets at 1.0755 and at the price of 1.0640.

MACD oscillator is showing strong selling pressure from the background with the slow line slopping to the downside, which is strong sign of the bearish pressure.

Resistance level is set at the price of 1.0970.

Support levels and downward targets are set at the price of .0755 and at the price of 1.0640.

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