Eur/Usd Technicals

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The bullish perspective starts to deteriorate. Even though the key support area stopped the decline and morning star formation appeared, the momentum of current upward movement is very shy. Therefore the decline towards the mentioned area with previous lows is now more probable than dynamic surge towards the red resistance zone. Still the target of correction at 1.18 has not been met and as long as we are above the support over 1.11 and over 1.08 in medium term, the bearish trend is not very likely.