Since the beginning of this week, nothing has changed much, Eur is still pulling back slightly to the upper side despite the massive drop seen last week. I expect this pullback to be a mere pullback and should not go above 1.1727, where I'll be looking for a short position. As it is on the weekly chart above, only a short position can be recommended towards 1.1451 where I'll be looking for a buy position. Should the price descend below 1.1451, then I expect further drop in price towards 1.0480.
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