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Back Technical analysis
EUR/USD Analysis – May 14th: Inflation Will Hit the US Economy Hard
The EUR/USD pair continued its decline
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The EUR/USD pair continued its decline on Wednesday after rebounding from the 1.1786 level and consolidating below the 50.0% corrective level at 1.1745. Thus, the decline of the euro may continue today toward the 38.2% corrective level at 1.1666. A rebound from 1.1666 would favor the euro, preserve the bullish trend, and support some growth toward the 1.1745 and 1.1786 levels. At the moment, the wave situation on the hourly chart remains simple. The last completed upward wave broke
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Samir Klishi,
Analytical expert of InstaForex
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