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EURUSD 22 May 2024

EURUSD 22 May 2024 EURUSD on the weekly timeframe, shows that the pair is still moving within the range between the R1 and R2 resistance levels. This pair had experienced a bullish trend in the previous sessions which managed to bring the price to the position of 1.08696. However, there is now a bearish signal on the candlestick chart, indicating a potential reversal or price correction. The Stochastic indicator also shows that its chart is almost touching the 80 level, which indicates an overbought condition. This gives an indication that selling pressure may increase in the near future, so traders need to pay attention to signs of trend reversal and exercise good risk management to anticipate price movements that are not in line with predictions.

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