EURUSD Downtrend Continuation
After the Fed Reserve's announcement of a reduction in interest rates the price of the EURUSD shattered a previously strong demand zone creating havoc on the Dollar charts and sent many traders to their graves who were anticipating a bullish move from the demand zone. New analysis now shows a continuation of the downtrend. After the bearish move following the Fed's decision, prices retraced to the once robust demand zone forming a new resistance zone. Fib data shows the retracement at the critical 0.618 level while also forming a bearing harami at the now new resistance level.
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