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EUR/USD bearish potential intact – FXStreet

FXStreet (Barcelona) - “Monday so far has been pretty active for a change “ says Valeria Bednarik, Chief Analyst at FXStreet as EUR/USD moved nearly 100 pips.

Key Quotes

“The 1 hour chat shows price consolidating below the 38.2% retracement of its latest daily decline at 1.2515, after the sharp decline seen early Europe, with indicators trying to recover below their midlines, and 20 SMA now flat a few pips above afore mentioned resistance.”

“In the 4 hours chart indicators had turned lower but remain above their midlines, as 20 SMA stands flat a few pips below mentioned daily low.”

“With ECB´s Draghi due to testify on Monetary Policy before the Committee on Economic and Monetary Affairs, in Brussels, some action can be expected afterwards, particularly if he makes comments on monetary policy.”

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