We've been trending down for weeks on the euro due to the immense strength of the dollar, but are we finally gonna see some relief?? As you can see, we reached a colossal support on the monthly which is 1.034-1.038 level and expecting a bounce from there. We formed a double bottom on lower timeframes and we have a potential Inverse head and shoulders that could start to form starting next week. We can also see a bullish divergence on the RSI and a bearish one on the DXY chart. Targets are: 1.0465-1.056-1.074. A break of 1.034 level would be a real danger for the euro and could possibly lead us towards 2001 area which is 0.96!
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