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Back Technical analysis
EUR/USD: May 5th - Trump Prepares for a New Trade War
The EUR/USD pair continued to decline
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The EUR/USD pair continued to decline on Monday toward the 38.2% Fibonacci retracement level at 1.1666. A rebound from this level today would favor the euro and a resumption of growth toward 1.1745 and 1.1824. A consolidation below 1.1666 would increase the likelihood of further decline toward the 23.6% Fibonacci level at 1.1568. The wave structure on the hourly chart is currently clear. The last completed upward wave broke above the previous peak, while the new downward wave has
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Samir Klishi,
Analytical expert of InstaForex
© 2007-2026
Summary
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Grigory Sokolov
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