EURUSD formed a bearish divergence that confirmed a double top formation at the 1.5580 level and has already started to move lower. The pair has a strong support level at 1.5500 to break before we can see a bigger drop but so far the bearish bias looks solid. EURUSD formed a bearish divergence that confirmed a double top formation at the 1.5580 level and has already started to move lower. The pair has a strong support level at 1.5500 to break before we can see a bigger drop but so far the bearish bias looks solid. This setup is reinforced by the fact that the 1.5580/90 area is also the 505 Fib retracement line of the bigger drop we witnessed earlier this month.
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