Currency analyst

EUR/USD: faith in dollar returns

Despite increased volatility on July 8, the sentiment for EUR/USD remains bearish. Strong non-farm payrolls will help USD strengthen. Technically ADX emerging from the area above 25 during the downtrend (-DMI>+DMI, EMA9<EMA26) allows us to recommend short position on breakthroughs to the downside or on the end of pullbacks to the upside.

Support is at the psychologically important level of 1,1. The first target of the bears is in the 1.088/1.0900 area. Here are the targets of the "Shark" pattern (painted in red) and AB=CD (painted in green). 

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