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    EUR/USD: downtrend can be continued

    Eurodollar tested the Ichimoku cloud on Friday. The bulls failed breaking the resistance of 1.1170. Therefore the trades are held at the lower boundary of the Cloud. Note that the Tenkan and Kijun are canceled the effect of the golden cross. We assume the downtrend will be resumed in the near future because the Cloud have a bearish mood.

    Technical levels: support - 1.1100; resistance - 1.1170.

    Trade recommendations:

    1. Sell — 1.1050; SL — 1.1070; TP1 — 1.1000; TP2 — 1.0950.


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    • avatar-1233
      Mikeknowles
      • #

      I think the downtrend will continue its hike in the July too.


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