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Back Technical analysis
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Back Technical analysis
EUR/USD – June 25th: The Dollar Is Overbought
On Wednesday, the EUR/USD pair continued
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On Wednesday, the EUR/USD pair continued its decline after consolidating below the 100.0% Fibonacci retracement level at 1.1411, moving toward the 127.2% Fibonacci level at 1.1291. A rebound from 1.1291 would allow traders to expect a reversal in favor of the euro and a moderate rise toward 1.1411. Consolidation below 1.1291 would increase the likelihood of a further decline toward the next Fibonacci retracement level at 161.8% – 1.1139. The wave structure on the hourly chart remains bearish. The
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Samir Klishi,
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