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The EURUSD achieves the first target – Analysis - 18-08-2021
The EURUSD pair managed to achieve our first waited target at 1.1700 and fluctuates around it, expecting to resume the negative trades to surpass this level and head towards 1.1605 as a next main target.
Therefore, the bearish trend scenario will remain valid and active for the upcoming period, supported by the negative pressure formed by the EMA50, noting that the continuation of the bearish wave depends on the price stability below 1.1780 and the most important below 1.1820.
The expected trading range for today is between 1.1630 support and 1.1780 resistance.
The expected trend for today: Bearish
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The EURUSD pair resumed its negative trading strongly to reach the thresholds of the first waited target at 1.1700, waiting for more decline that targets 1.1600 level as a next station, noting that the continuation of the bearish wave requires holding below 1.1780 and 1830.
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