The $EURUSD direction remains uncertain as it trades around the 1.06 level. A break below 1.05 could lead to a move down to parity, while a break above 1.08 would indicate a reversal of the downward trend.
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On the other hand, if the Euro breaks higher, it is essential to keep in mind that the 50-Day EMA is sitting just above the Wednesday candlestick, hovering around the 1.07 level. Anything above this level opens up the possibility of a move to the 1.08 level, which has previously experienced selling pressure. As a result, it may be challenging to break above this level. If the Euro does break above 1.08, it threatens the overall downward momentum that started at the 1.
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