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EUR/USD Analysis Today 08/8: Bears To Regain Control (Chart)
(MENAFN- Daily Forex)
- For the second consecutive day, the EUR/USD currency pair has been under selling pressure as profit-taking emerged following the pair's break above the 1.1000 psychological resistance level, its highest in seven months, at the beginning of this shortened trading week.
- Selling pressure pushed the pair towards the 1.0903 level before stabilizing around 1.0920 at the time of writing this analysis, awaiting any new developments.
- Recently, the EUR/USD has been strongly influenced by signals from global central banks regarding the future of tightening, as well as concerns about a US economic recession.
- The euro is somewhat vulnerable, but it has made relative gains. Last Friday's US jobs data raised concerns about the US economy slipping into recession.

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