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EUR/USD: looking to hold above 1.1765
2019-11-11 • Updated
EUR/USD is still consolidating losses below the 50 SMA at H1 chart and the support zone of 1.1765 seems to be a solid hurdle to overcome in the short-term. We expect that such level could hold in the short-term in order to give a boost to the pair and put it on the way to reach the next mid-term target, according to our Fibonacci projections, around 1.2020, which coincides with the -23.6% Fibonacci level. If it manages to break below 1.1765, then the next target should be the 1.1712 level.
RSI indicator is entering the neutral territory is pointing to the upside.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
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