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EUR/USD: euro is dreaming of the balance of powers
On the EUR/USD daily chart, there are two long-term patterns - "Head and shoulders" and "Crab". Target 161.8% in the "Crab" pattern corresponds to 1,004. The outlook for this pair is still "bearish", so, correction should be used for the opening of short positions.
On the EUR/USD hourly chart, there is an acceleration of the downtrend which increases the risk of implementation of reversal pattern "Splash and reversal with acceleration". However, until the quotes rise above the upper boundary of the last downward channel, the "bears" will retain their control over the market.
Recommendations:
SELL 1,073 SL 1,0785 TP1 1,05 TP2 1,004
SELL 1,076 SL 1,0814 TP1 1,05 TP2 1,004.
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