EUR/USD has broken clearly below the uptrend-line from May 2020 indicating a deeper corrective decline is unfolding. We are ultimately looking for a corrective decline to solid support near 1.1608 from where renewed upside pressure is expected. But for now we should stay focused towards the downside for a dip to 1.1865 form where a minor counter-rally close to 1.2048 is expected before the next push lower to 1.1608 should be expected.
Sell EUR near 1.2048 and place the stop+revers at 1.2190
The material has been provided by InstaForex Company – www.instaforex.com
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