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EURUSD Eyes 1.1875 As ECB Mulls Full Scale QE
The Euro (EUR) extended downside movement against the US Dollar (USD) on Wednesday, for the sixth day in a row hence dragging the price of EURUSD to less than even 1.2200 in a record breaking losing streak since the 2010 slowdown. The pair broke a monster channel support on the daily chart and looks set to break the monthly channel support as well which could pave the way for more correction below the 1.2000 milestone. As of this writing, the pair is being traded around 1.2170. A support can be seen near 1.2164, the intraday low of yesterday ahead of 1.2000, the psychological number and then 1.1875, the low of 2010. ... (full story)
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