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29.09.2023 09:22 AM
Following a prolonged decline and retest of the March low, EUR/USD shifted to a correction, but without updating the yearly low of 1.04830.
This suggests a possible decrease in prices, and the target could be the yearly low.
Looking at the signals, traders could consider short positions from current prices up to the level of 1.04830. Place stop-loss at 1.06060 and set take-profit upon the breakdown of 1.04830.
This trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.
Good luck in trading and don't forget to control the risks! Have a nice day.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
