EUR/USD looks ready for more downside

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EUR/USD is supported around 1.1750. However, the pair has already fallen below the summer support line. We’ll view buy trades only when the pair returns above 1.1800. Until that happens, it’s necessary to be ready for further declines – a very likely scenario given the approaching ECB meeting on Thursday. The Awesome Oscillator has entered the negative zone. The fall below 1.1750 will trigger a slide to the 1.1700/1680 area.

Trade idea for EUR/USD

SELL 1.1745; TP 1.1700; SL 1.1760

EURUSDDaily.png

TRADE NOW

FBS Analyst Team

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