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FX.co ★ EUR/USD: downside continuation below 1.0527

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Forex Analysis

3 January 2023 at 4:16PM (UTC+0)
iconRelevance until4 January 2023 at 4:16PM (UTC+0)

EUR/USD: downside continuation below 1.0527

EUR/USD: downside continuation below 1.0527

EUR/USD Minor Growth!

The EUR/USD pair registered a strong drop today. 1.0527 is seen as a downside obstacle. The rate tried to increase after reaching this level and it was almost to hit the 1.0579 upside obstacle (the downside obstacle turned into an upside obstacle).

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Technically, after dropping below the uptrend line, the rate signaled exhausted buyers and announced a new downside movement.

EUR/USD Forecast!

Dropping below today's low of 1.0527 could announce more declines. This is seen as a selling opportunity.

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