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EUR/USD: euro is on July’s highs

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Technical levels: support – 1.1670, 1.1720; resistance – 1.1780.

Trade recommendations:

  1. Sell — 1.1780; SL — 1.1800; TP1 — 1.1720; TP2 – 1.1670.

Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun; the market made a new highs but now is extremely overbought – expected a correction to Tenkan-sen or Kijun-sen.

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