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EURUSD Forecast – $1.16187 as a Strong Support
The price has reversed from the weekly up trend line and closed below $1.17200 support level I was mentioning last week. It took two days for the price to break below and after breaking there was indecision. Indecision candle has formed on Wednesday showing how the market is preparing for the next move down. And that happened on Thursday where the price moved down. Friday as usual is a day when the market reverses back because of traders cashing profits before the weekend starts. $1.17200 was a breakpoint for the sellers and now it is resistance for buyers. Start of the week could have a small test of the $1.17200 ... (full story)