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EUR/USD Forecast and Analysis – May 18th: Euro Shows Limited Recovery After Decline
The EUR/USD pair continued its decline
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The EUR/USD pair continued its decline on Friday and by the end of the day had moved below the 50.0% corrective level at 1.1630. As of Monday morning, the pair reversed in favor of the euro and consolidated above the 1.1630 level. Thus, the upward movement may continue for some time toward the 38.2% Fibonacci level at 1.1682. A renewed consolidation below 1.1630 would favor the US dollar and a resumption of the decline toward the 61.8% retracement level at
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Samir Klishi,
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