The euro has started to lose accumulated profits. The fact that it could not close above the daily fractal level 1.3228 increases the likelihood of a decline of the pair until the next fractal. Now immediate support is located at 1.3068. This pair is a little quiet, which means that soon we will see strong movements in this pair. This pair has always been affected by Federal Reserve data, which is its main driving force. However, there is concern that the FED begins to reduce its quantitative easing in September and that will raise the value of the U.S. dollar. If you take into account the weakness of the European economy, it is more likely that in the next few weeks the euro reaches the level of 1.30.
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