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EUR/USD Analysis Today - 02/10: Euro Down (Chart)
(MENAFN- Daily Forex)
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- The EUR/USD exchange rate is poised to decline for the third consecutive day, driven by a decline in September's Eurozone inflation figures and diverging communications between global central banks. The EUR/USD pair has lost ground, reaching the nearest support level of 1.1045, threatening to break below the crucial 1.1000 level. The pair had previously surrendered its strong gains at the end of last month, reaching a resistance level of 1.1214, at which point we recommended selling the pair, a recommendation that proved highly successful.
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