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EUR under a heavy downside pressure

FXStreet (Łódź) - Independent Analyst Vladimir Mihaylov observes that since the FOMC monetary policy meeting last week the EUR has been experiencing strong downside pressure

Key quotes

"It has broken the 1.2500 support, currently trading below it too."

"Weekly, Daily and H4 indicators are bearish so another push downside is ahead."

"Seems that the EUR will look for support around 1.2200-1.2140 and finally 1.2000. It may seem too catastrophic but prices below 1.2000 are also possible, but maybe next year."

"For now EUR is bearish below 1.2530 and first resistance is now 1.2500."

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