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The dollar entered a correction phase on Wednesday as market participants took advantage of the fact that major currencies paired with the dollar had been depreciating at a fairly high pace over the past few days and had either reached or briefly breached key levels where support was widely expected. For example, these levels were […]

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GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting within a Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2080 is expected, followed by a decline to 1.1965. An additional signal confirming the decline will be a rebound from the upper […]

EURUSD, “Euro vs US Dollar” EURUSD has formed an Inverted Hammer reversal pattern near the support level on H4. Currently, the instrument might go by the reversal pattern in an ascending wave. The pullback target could be the resistance at 1.0535. However, the quotes might drop to 1.0420 and continue the downtrend without testing the […]