EUR/USD stays vulnerable below 1.0500
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Hello dear friends!
Is the question you are currently interested in whether EURUSD will rise again or continue to decline?
Let's find out together with Karina!
From the 1D analysis chart, we can see that EURUSD has been continuously declining since reaching a high of 1.128. Despite some recovery phases, it seems that it is not enough to bring the price back. The important support levels at two major price areas, 1.058 and 1.052, have been easily broken, reflecting a strong downward momentum.
Currently, EU is trading around the support zone of 1.052 with a slight recovery. However, after rising to the EMA 34 area, it quickly gets pushed back. If the current support level is broken, there is a high possibility that EU will not be able to turn around.
What about you? Do you agree with this analysis?
Is the question you are currently interested in whether EURUSD will rise again or continue to decline?
Let's find out together with Karina!
From the 1D analysis chart, we can see that EURUSD has been continuously declining since reaching a high of 1.128. Despite some recovery phases, it seems that it is not enough to bring the price back. The important support levels at two major price areas, 1.058 and 1.052, have been easily broken, reflecting a strong downward momentum.
Currently, EU is trading around the support zone of 1.052 with a slight recovery. However, after rising to the EMA 34 area, it quickly gets pushed back. If the current support level is broken, there is a high possibility that EU will not be able to turn around.
What about you? Do you agree with this analysis?
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