The price forms a lower bottom and retraces within a range. If the price retests the resistance area and rejects it, we may see further downward movement or a test of the main support level. As you can see, the upper boundary of the range has pushed the price lower multiple times. The EUR has moved higher towards the resistance level, which could lead to some pullback. My long-term target is the support level at 1.04960 from the resistance area.
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what do you think?
