EUR/USD Technical Analysis: The Bearish Trend is Still Valid

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EUR/USD Technical Analysis: The Bearish Trend is Still Valid
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The EURUSD has rallied above the moving averages, so it may hold as dynamic support on dips- Forex Forecast

In recent trading, the US dollar has become weak after the release of the pessimistic US non-farm payroll data on Friday, as this reduces the chances of a US interest rate hike from the. In turn, this can support general economic activity, which then increases risk while traders become less wary of recession risks.

Chinese inflation data also deserves to keep more attention, as pessimistic readings could spur hopes for more PBOC stimulus and risk appetite.

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