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Daily Forex Technical Strategy
EUR/USD – Further corrective rebound in play. The pair has drifted lower and hit the short-term downside target/support of 1.1000 as per highlighted in our previous report (click here for a recap). Since last Tues, 03 Sep, it has staged a bounce of 160 pips to print a high of 1.1085 on 05 Sep before it traded sideways with a minor low of 1.1018. This minor sideways range represents 38.2% Fibonacci retracement of the recent rebound from 03 Sep low to 05 Sep 2019 high. Bullish bias in any dips above 1.1000 key short-term pivotal support for another potential upleg of the corrective rebound phase to target the next ... (full story)