EUR/USD - Weekly
Our expectations - It looks like a EUR/USD textbook will go to test the 200 average, after a successful breakthrough and test of the long-term upward trend starting in early 2017 when everyone spoke about parity between the two most traded currencies in the world . Let's take a closer look: the price has the ascending channel down, then tests its primary diagonal, which coincides with a short internal diagonal. After the successful test of the resistance level, the price sharply collapsed. Currently, it seems that the first level of support to be tested is the area around 1.1300 / 50, formed by 200SMA, 23.6% Fibonacci correction of the main trend and the main horizon. 50 and 200SMA remain beaten, but worsening economic relations between the US, China and Europe weaken the European economy.
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