On its 4-hour time frame, EUR/USD seems to be pulling back from its recent rallies as its currently edging towards the 1.3050 area. That level is closely in line with a former resistance level and the 38.2% Fib! Could 1.3050 hold as support from now on? Stochastic is still pointing down, suggesting that euro bears have enough energy to take the pair further south. Be careful when trading this one!
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