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USD has recently tested a projection at 0. It is worth noting that since 2016, the corrections in the pair tend to bottom out near the 76. With weekly and daily indicators near support, 0. 30 and more importantly the weekly channel at 0. 7580 should be near term support levels. USD will then head towards the key support near 0. This will be a decisive level for a much deeper down move.
Shorter term, the pair has formed a daily bullish engulfing denoting a rebound is likely. 30, the pair should head towards 0. January with next resistance located at the daily descending trend at 0. We provide real-time forex news and analysis at the highest level while making it accessible for less-experienced traders. Get the latest breaking foreign exchange trade news and current updates from active traders daily.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. On Wednesday the 30th of May, trading on the EURUSD pair closed up. On the back of some correctional movement on the US dollar, the single currency managed to return to 1.