EUR/USD is currently trading with a bearish bias. The pair bounced off from our previous day's key resistive trend line as forecasted and is currently trading with a bearish bias. Since this pair is strongly positively correlated to GBP/USD and CHF/HKD, we expect further movements downward in the Euro Markets. All these positively correlated pairs are giving short signals, therefore, we advocate for short positions in this pair but with stops at 1.09239, and the next stop at 1.08535. Ideally, just like in Pound market, wave (c) in this pair should be along one of the above support levels.
We remain short in this pair but with stops at 1.09239, and the next stop at 1.08535.
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