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A weekly support is seen around 1.12564

A weekly support is seen around 1.12564 | 21 February 2019

21 February 2019, EUR/USD

A weekly support is seen around 1.12564

Wave Analysis

During the previous trading day, Euro opened at 1.13387 went as high as 1.13701 and as low as 1.13238, but ended up closing at 1.1335, just a few pips below its opening price. The previous day's candle is a bearish dominance candle and as long as the price remains below the previous day's opening price, we expect a possible surge to the lowerside towards 1.12564. This level is a weekly support and while the price is contained above it, we're long term buyers, long term traders should have a pending buy limit around 1.12564 with stop loss below 1.12265.

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