Tue, Dec 01, 2020 @ 04:44 GMT
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EUR/USD Could Go Downwards

On Thursday, the EUR/USD currency pair declined to the 1.1660 level.

It is likely that some downside potential could prevail in the market, as the exchange rate is pressured by the 55-hour SMA near 1.1720. In this case the rate could target the weekly S3 at 1.1575.

Meanwhile, note that the currency pair could gain support from the weekly S2 at 1.1639. Therefore, the pair could reverse north and try to exceed the Fibo 61.80% at the 1.1707 mark.

Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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