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FX.co ★ EURUSD short-term analysis

EURUSD short-term analysis

EURUSD continues to trade inside the medium-term bearish channel, but it now starting to show reversal signals as price respected the key horizontal support level of 1.1538.

EURUSD short-term analysis

Red lines - bearish channel

EURUSD is showing signs of a possible double bottom around 1.1520. Price has short-term resistance at 1.16. The upper channel boundary resistance is at 1.1655. Both of these two levels need to be captured by bulls in order for short-term trend to change to bullish. Failure to stay above 1.15, will lead to a move lower towards 1.13-1.12.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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