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EUR/USD: 'Thorn' pattern
There's a 'Thorn' pattern, so the pair is rising. However, there's an opportunity to have a local bearish correction in the coming hours. So, we should keep an eye on the nearest support at 1.1599 as a possible departure point for another bullish price movement.
We've got a local 'V-Top', so it's time for a downward correction. The main intraday target is the closest support at 1.1599. If a pullback from this level forms next, we're likely going to have an advance towards the next resistance at 1.1679 - 1.1701.
Asian equity markets were subdued, and US equity futures traded choppy after last Friday’s losses on Wall Street.
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Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.