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EUR/USD Dips as Bullish Run Ends, USD Gains Strength

Short
Euro / U.S. Dollar (PEPPERSTONE:EURUSD)  
ClearTradingMind  
PEPPERSTONE:EURUSD   Euro / U.S. Dollar
Chart Patterns Trend Analysis
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chartpattern trendanalysis

1. EUR/USD Exhausting Bullish Trend: This part suggests that the upward movement (bullish trend) of the Euro against the US Dollar in the Forex market is losing momentum.

2. Likely to Move Downwards: It indicates a prediction or expectation that the EUR/USD currency pair will start to decrease in value, meaning the Euro will weaken compared to the Dollar.

3. Breaking Through Support Line: In technical analysis, 'support lines' refer to price levels at which a currency or stock consistently stops falling and might bounce back up. Breaking through these lines suggests a strong downward movement, reinforcing the prediction of a bearish (downward) trend.

4. USD Index Getting Stronger: The USD index (often referred to as the US Dollar Index or DXY) measures the value of the US Dollar relative to a basket of foreign currencies. A strengthening USD index means the US Dollar is performing well compared to other currencies, which often correlates with a decrease in the EUR/USD rate (as the USD gets stronger, the Euro gets weaker in comparison).
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