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Technical analysis of EUR/USD for 16.05.2019

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Only a sustained and impulsive breakout through the technical resistance zone located between the levels of 1.1264 - 1.1273 would change the outlook from bearish to bullish, so after the failed rally attempt, the EUR/USD market moved down towards the technical support at the middle of the range at 1.1173. The price bounced a little but overall the market remains directionless at it awaits a breakout in either direction.

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