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The price of the Euro against the US dollar made a correction, reaching the level of local resistance which breaks with the largest local correction.

By marking the bottom line of the trend, we could determine the channel which, as we can see, kept the price that rebounded. Currently, we assume a further decline in the currency, but one should watch out for a possible correction. Long positions will be taken into account only after breaking the resistance and above the marked blue level. Until then, they fell to the level of the largest correction in the entire upward movement.



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