The EUR/USD pair is going down with no recovery signs, the price is now at 1.1016, the rate didn’t touch this zone after 2003. The outlook is bearish on short, medium and long term, maybe we’ll see the pair at parity till the end of this year.

As you can see from the monthly chart, the price is trading below the 61.8% retracement level and below the median line (ML) of the descending pitchfork. Tomorrow we’ll have other important economic data from US, the price can close lower than today’s lower level if the economic indicators will be positive.


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