EURUSD 2018-08-06

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Euro managed last week to broke below support 1.1600-20 where market managed to resume drop where market closing from Short-run support zone 1.1505-20

If this support 1.1505-20 managed to support market another rebound correction to test 1.1600-20 will be expected, while in general and for the Intraday Traders as long as market holding trades below 1.1630 the market will continue to try to break below 1.1500

Above 1.1630 a farther rebound correction will be expected toward 1.1700-20 zone

Below 1.1500 Market will start another drop wave for the Short Run that may target 1.1300 as first target 

  Support Resistance
Level 1 1.1505-20 1.1550-60
Level 2 1.1450 1.1620-30
Level 3 1.1400 1.1700-20
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Rami Abu-Dra`a is a Chief Technical Analyst at Orbex and a holder of B.S Degree in Banking & Financial Science / Subsidiary Economic. Rami ‘s strategic vision of forex markets, enhanced by more than a decade of trading experience, allows him to efficiently mix fundamental and technical analyses, and find the best investment ideas for Orbex traders.

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Rami Abu-Dra`a is a Chief Technical Analyst at Orbex and a holder of B.S Degree in Banking & Financial Science / Subsidiary Economic. Rami ‘s strategic vision of forex markets, enhanced by more than a decade of trading experience, allows him to efficiently mix fundamental and technical analyses, and find the best investment ideas for Orbex traders.

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