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The European currency is at a borderline level which, if violated, may cause a deeper correction. The correction can reach even close to 400 pips. Someone will ask where this number comes from ? taking into account the Over Balance, trend lines from the H4 time interval and the Fibo 50 retracement. All these 3 points indicate around one level. However, I am not setting myself up for a short position until the support line that EURUSD reached in the Asian session is broken and there is a correction that will allow the position to be closed in line with the new move.
