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EUR/USD reversed from resistance zone

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  • EUR/USD reversed from resistance zone
  • Next sell target - 1.2200

EUR/USD recently reversed down from the resistance zone lying between the key resistance level 1.2500 (which has been reversing the price from the end of January, as can be seen below) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the previous minor impulse wave 3. EUR/USD is expected to fall further toward the sell target at the next support level 1.2200 (low of the previous minor correction 2).

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