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Forex: EUR/USD falls to "red" despite ECB LTRO announcement

The EUR/USD was unable to extend gains above 1.3430 high and breached below the 1.3400 mark and opening price of 1.3383. The pair has retraced its daily gains and is moving lower towards yesterday's lows, of 1.3371.

The ECB announced that LTRO repayments for February 13th will total €5B, more than the €3.2B of last week. The amount outstanding from the 1st LTRO is €343B.

"I think today the price may return to the level of 1.3490, at least, and then form another descending structure to reach the target at 1.3330", wrote Roboforex.com analyst Igor Sayadov, expecting then a pivot point formed for a new ascending movement towards the 1.3980.

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