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Forex Analysis & Reviews: 08/05/2022

Relevance up to 12:00 UTC+00

Technical analysis:

EUR/USD has been trading sideways today and I see potential for the breakout mode.

Trading recommendation:

Due to the sideways regime today I see potential for the breakout.

In case of the upside breakout of the support at the price of 1.0210, watch for selling opportunities on the intraday rallies with downside objective at 1.0160

In case of the upside breakout of the resistance at 1.0250, watch for potential buying opportunities on the intraday dips with the upside objective at 1.0300

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert of InstaForex
© 2007-2022

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