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EUR/USD could fall once again after double top
Following on from the completion of a double top on Wednesday night, EUR/USD has been rallying overnight.
That break below $1.2205 points towards the potential for further downside, with a break above $1.2355 required to negate the possibility that we are simply seeing a retracement before we move lower once again. Until then, a short position in the zone between the 61.8% and 76.4% Fibonacci levels ($1.2278-$1.2308) looks attractive.
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