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EUR/USD Weekly Forecast ( February 20-24)

Daily chart analysis
Another retracement wave is expected if the price reaches EMA 50 (1.0662). The stochastic oscillator also indicates a retracement continuation. The price might rise at Fibo 38% ( 1.0830). A potential target for the EUR/USD currency pair in the long term is Fibo 50% (at 1.0980).

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8 hour chart analysis
The MACD is positive, according to the 8 hour chart. If the price reaches EMA 200 ( 1.0694), this will be a confirmation of an uptrend in the short term. The price might rise more in order to form a triangle at 1.0812.

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