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Back Technical analysis
EUR/USD, April 24th: The Eurozone Economy Faces Challenges
On Thursday, the EUR/USD pair continued
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On Thursday, the EUR/USD pair continued its decline toward the 38.2% Fibonacci retracement level at 1.1666 after consolidating below the 50.0% level at 1.1745, and by the end of the day it had nearly reached it. Thus, a rebound from the 1.1666 level today would allow for a reversal in favor of the euro and some growth toward 1.1745. A consolidation below 1.1666 would increase the likelihood of further decline toward the next retracement level of 23.6% at 1.1568.
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Samir Klishi,
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