EUR/USD: History Repeats Itself
CHART ANALYSIS: On the 1 hour chart, price has closed below both the 50 and 200 EMA. On the 4 hour chart, price has closed below the 50 EMA as well. The last time this happened was mid March. As you can see, price dropped nearly 600 points before a solid bounce occurred. The next strong support is at 1.10. It will be a bumpy road, as there are two smaller ones that we have to break through first. A close below 1.10 will most likely lead us to 1.08.
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