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4 REASONS WHY EUR/USD COULD DIVE AGAIN
Euro / U.S. Dollar
Short
4 REASONS WHY EUR/USD COULD DIVE AGAIN
By MujkanovicFX
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Oct 7, 2019
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Oct 7, 2019
1. Our EUR/USD trade has reached its take-profit level last week as expected and is now facing selling pressure at the upper wedge resistance.
2. That price-level aligns with the 61.8% Fib level and a horizontal resistance zone, signaling a potential continuation of the underlying downtrend.
3. Notice that the RSI has already reached its recent high, showing that the recent up-move in EUR/USD is losing momentum.
4. The pair is also forming an indecisive daily candlestick as buyers are losing steam and sellers are joining the market.
Chart Patterns
ecb
EUR
EURUSD
fed
Forex
IDEA
Technical Indicators
signals
tradeidea
Trend Analysis
USD
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