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EUR/USD: short positions from the current level – Analytics & Forecasts – 23 May 2022

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In our opinion, it is possible to enter short positions from the current level by placing pending sell limit orders near the resistance levels 1.0700, 1.0740, 1.0800. A signal to enter short positions will also be a breakdown of the support level 1.0652. A break of the support level 1.0485 (the low in the pair’s decline from 1.3870 that began in May 2014) will be a confirming signal for the resumption of the EUR/USD downtrend.

Support levels: 1.0652, 1.0600, 1.0527, 1.0500, 1.0485, 1.0400, 1.0355, 1.0300

Resistance levels: 1.0700, 1.0740, 1.0800, 1.0810, 1.1000, 1.1070, 1.1100, 1.1190, 1.1285

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Source:  InstaForex

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