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T3-Consultancy

EURUSD M30: Bearish outlook seen, further downside below 1.0880

Short
Euro / U.S. Dollar (SAXO:EURUSD)  
T3-Consultancy  
SAXO:EURUSD   Euro / U.S. Dollar
Harmonic Patterns Chart Patterns Trend Analysis EUR EURUSD USD eurusdlong eurusdshort Forex forextrading forexsignals
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On the M30 time frame, prices are holding in a descending channel and approaching the resistance zone at 1.0880, in line with the 61.8% Fibonacci retracement. A pullback to this zone presents an opportunity to play the drop to the support zone at 1.0800, in line with the graphical low. Prices are facing bearish pressure from the Ichimoku cloud as well, supporting the bearish bias.
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