Euro / U.S. DollarShort
EUR/USD decline likely to continue
From a theoretical point of view, it is likely that some upside potential could prevail in the market. In this case it is unlikely that the exchange rate could exceed the weekly PP at 1.0995.
However, note that the currency pair is pressured by the 50-hour SMA. Thus, the pair could decline along the lower channel line in the short run. If the given channel does not hold, the pair could go below 1.0920
However, note that the currency pair is pressured by the 50-hour SMA. Thus, the pair could decline along the lower channel line in the short run. If the given channel does not hold, the pair could go below 1.0920
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