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EURUSD Technical Analysis

On the daily chart below for EURUSD, we can see that the market has finally turned around and the trend has now changed. The multiple failures to break above the 1.1033 high were significant and once the price fell below the red long period moving average, the sellers started to pile in aggressively, eventually pushing the price much lower. The moving averages have now crossed to the downside in a further confirmation that we are in a downtrend. We could also have a major double top pattern with... Read More

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Eurusd

Technical

Analysis

Forex

Posted: May 18 2023, 09:59

Author Name: forexlive

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