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Good day forex traders and readers.
In the previous EUR/USD forecast we noted that the currency pair was bullish. Having said so I cautioned against any commitment as low volume and liquidity conditions persisted. We do not want to be caught with an unexpected move.
Looking at the EUR/USD daily chart above we note that the currency pair unexpectedly made a bearish correction. I hope everyone heeded my advice cause to be caught long with such a dip would be devastating to margin accounts!
The current technical setup comes across as a loose double top chart pattern. We will need to observe carefully how the EUR/USD will react to the pivotal level of 1.36.
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