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EUR/USD downtrend looks set to continue
EUR/USD has been trending lower in a very convincing manner, with price dropping below the key $1.0911 level last week. Despite a deep retracement so far this morning, we have not broken above the $1.0889 mark.
Given the sharp deterioration in the past week, we could see some form of rally before further gains come into play. However, until we see the creation of a new higher high, the bearish view remains in place.