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    EUR/USD Intraday Technical Analysis

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    Overview:

    Since our last analysis, gold has been trading downwards. The price tested the level of $1,077.13. According to the daily time frame, we can observe a downward bar in a volume above the average. According to the H1 time frame, we can supply in a volume above the average. Sellers are in control on the market, so watch for potential selling opportunities. Since the price has broken support at $1,132.00, we may expect potential testing of the level of $1,035.00 (monthly support).

    Daily Fibonacci pivot points:

    Resistance levels

    R1: 1,096.00

    R2: 1,099.00

    R3: 1,102.00

    Support levels:

    S1: 1,089.00

    S2: 1,085.70

    S3: 1,082.00

    Trading recommendations: Be careful when buying gold at this stage and watch for potential selling opportunities.


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