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EURUSD recently reversed up from the support zone lying between the support level 1.08700 (former resistance from the start of May) and the 61.8% Fibonacci correction of the previous sharp upward impulse wave (i) – which belongs to the B-wave from the end of April. With the strong bearish sentiment affecting the US dollar today – EURUSD is likely to rise further toward the next resistance level 1.10000 (top of the previous waves (a) and (i)).
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