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EUR/USD: correction from the "V-Bottom"

Sergey Logachev

EUR/USD: correction from the "V-Bottom"

The pair was moving down on Friday, so we've got a support at 1.1233 and a «V-Bottom» pattern. It's likely to see a local upward correction. At the same time, bears have enough power to get a support at 1.1195 – 1.1166. If we a pullback from this zone arrives, it'll be a chance to see the price on a resistance at 1.1217 – 1.1233.

EUR/USD: correction from the "V-Bottom"

We've got a «V-Top» pattern, which led to the current decline. Finally, the pair found a support at 1.1233, so there's an upward correction in progress. The market is likely going to reach a resistance at 1.1269 – 1.1284. If bulls be stopped somewhere in here, it'll be an opportunity for bears to achieve a support at 1.1217 – 1.1168.

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