The cross is consolidating above important supports at 0.8486/77 (converged 10/20DMA’s / Fibo 38.2% of 0.8249/0.8618) following Wednesday’s sharp drop (0.9%). Bearish engulfing pattern formed on Wednesday, along with large bearish daily candle, weigh on near-term action, with rising bearish momentum on daily chart, adding to negative signals and keeping the downside vulnerable. Clear break […]
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