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The euro / dollar remains perfectly channeled down

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In the very short term we have a potential 'head and shoulders' that if fulfilled can be launched at the crossing towards the intermediate support of 1.0980.

Technical analysis
BEARING CHANNEL
S1
1.0980
S2
1.0878
R1
1.12
R2
1.14

Short term

Medium term

Long term

In the very short term we have a small 'head and shoulders' in the euro / dollar which can be used, if this is finally fulfilled, to take the crossing to the support area that presents in the minimum of November (1,0980). And below there is nothing until the 2019 lows at 1.0878. However, the really important thing is that the crossing continues to move within an impeccable bearish channel since July 2018, building as it cannot be otherwise decreasing maximums and minimums. Above, on the resistance side, the most important cannot be anywhere other than the last declining maximum, the highs at the beginning of the year at 1.1240. Only above this last level we will have a first sign of real strength beyond the typical rebounds against trend.

Daily chart of the euro / dollar since May 2018

. (tagsToTranslate) euro / dollar (t) follows (t) perfectly (t) channeled (t) low (t) Category: All (t) Category: Market Report (t) Category: Technical Analysis (t) Category: Pulses ( t) Category: Analysis (t) Category: Market Pulse



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