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EUR/USD gradually regaining ground
EUR/USD is on the upward journey within a range that has been in place throughout much of 2018. The recent retracement has been relatively moderate, with the price hitting the 50% level thus far.
Given the shallow nature of this current rebound, there is a strong chance we will see a three-legged retracement, with the price moving into the 61.8% or 76.4% level. As such, while we are expecting to see a move back towards the upper echelons of the range, we could quite easily see a short-term period of weakness beforehand.