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EUR/USD rallies into deep retracement
EUR/USD punched higher in the second half of the week, with a raft of EUR positive growth forecasts coupled with USD negative news regarding tax reforms hitting the pair.
However, we are not out of the downtrend yet, and with the price rallying into a wider retracement between 61.8% and 76.4%. As such, there is a good chance we could see the pair begin to turn lower once more as we close out the week, with a move back above $1.1691 required to negate the bearish bias.