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EURUSD in broken pieces after FOMC damage
EURUSD was one of the biggest victims of the hawkish FOMC policy announcement, with the price collapsing by more than 1.30% below May’s lows in the aftermath and extending its freefall lower to 1.1940 on Friday. An upside reversal would not be a big surprise in the near term in the four-hour chart given the RSI’s deep downfall inside the oversold area. The Stochastics also look set for a bullish cross in the oversold territory, though neither of those indicators have showed a convincing upturn yet. Hence, the basic scenario is for the sellers to dominate in the short term. Nevertheless, a decisive close below the ... (full story)
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