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EURUSD 4H : Still support further decline

EURUSD

New forecast

Trading in the euro/dollar pair stabilizes below the level of 1.0510, and has been fluctuating along a sideways path since yesterday. Therefore, there is no change in the expected bearish trend scenario for the coming period, whose next targets are at 1.0440 and then 1.0408 after crossing the previous level.

The descending channel supports expectations of a continuation of the downward trend, keeping in mind that breaching 1.0516 will lead the price to achieve immediate gains and head towards 1.0550 initially so it is possible to do a retest to the level 1.0515 and then drop .

The expect range trading for today it will be between the resistance line 1.0516 and support line 1.0463.

Additionally ,Today News will affect the market .

support line : 1.0463 , 1.0440
resistance line : 1.0516 , 1.0554

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