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Euro / U.S. Dollar
Short

Outlook on EURUSD: Bearish play seen

By shermzT
On the H4 time frame, prices are testing a key resistance zone, in line with the graphical high, with further downside seen below this level. On the M30 time frame, a pullback to test its resistance zone at 1.18888, in line with the 78.6% Fibonacci retracement and 127.2% Fibonacci extension presents an opportunity to play the drop to the next support target at 1.18450, in line with the -27.2% Fibonacci retracement.
Chart PatternsEUREURUSDeurusdlongeurusdshortForexforexsignalsforextradingHarmonic PatternsTrend AnalysisUSD
shermzT

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