As seen on the 4H chart, the is on oversold territory and has more probabilities on the short term to rebound back above 60.000, effectively pushing EURUSD back within 1.1120 - 1.1140 before a stronger decline towards the 1.10645 1D Support. We are closely monitoring also for the formation of a 4H Death Cross.
This doesn't alter our long term outlook towards 1.08900 - 1.08440 as illustrated by the October 23 analysis below:
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