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The EURUSD fails to consolidate positively - 16-11-2023
The EURUSD pair couldn’t manage to hold above the support base that it attempted to form above 1.0860 level, to trade negatively and head towards expected visit to 1.0760 areas, making the bearish bias suggested for today, being aware that we need to monitor the price when reaching the mentioned level, as breaking it represents the key to return to the main bearish track and achieve additional decline that its next target reaches 1.0640.
On the other hand, we should note that breaching 1.0860 will stop the negative scenario and push the price to achieve new bullish correction that targets 1.0960 areas on the near term basis.
The expected trading range for today is between 1.0750 support and 1.0890 resistance.
The expected trend for today: Bearish
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MoreEvening update analysis for the EURUSD 15-11-2023
The EURUSD pair settles below 1.0860 level, to hint potential turn to decline, and we need to monitor the upcoming trading, as consolidating below this level will push the price to continue the decline and visit 1.0760 level.
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