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The EURUSD price experienced a brief period of positive movement but has now resumed its downward trajectory, keeping the bearish trend intact for today. The focus is on breaking the 1.0496$ support level, which could pave the way for further declines toward the 1.0400$ mark as the next key target.
Bearish Trend Supported by EMA50
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The EMA50 continues to support the bearish outlook, and this trend will remain valid unless the price breaks above 1.0600$ and closes daily above this level.
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Today’s Trading Range
Support Level: 1.0470$
Resistance Level: 1.0610$
Trend Forecast: Bearish
The overall sentiment remains bearish for today, with 1.0496$ as a critical level for further declines. A move above 1.0600$ would invalidate this scenario.
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