The EUR/USD is rejecting from 78.6. We should see a move down below W L3.
The EUR/USD is rejecting from 78.6 fib. We should see a move down below W L3.
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The market is still bearish. 78.6 is the main rejection point. We can also see the 1-2-3 pattern. Bears are strong and the pair is trying to push below 1.1315. 1.1300 is the first target. Below 1.1300, market momentum will turn more bearish and 1.1280-60 should be next. This is the “sell the rallies” scenario.
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