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Feb 16

The Dollar recovery may continue a couple of hours ahead

EURUSD hit the top of 1.2169 as this level was a signal for the selling process. The Dollar recovered from the high of 1.2169 a level reached on January 26th 2021. The recovery is already generated of 70 pips. The tendency for continued recovery remains for the next couple of hours.
The fundamental focus comes for tomorrow the key data for the U.S. Retail Sales and FOMC Minutes. The investors predict a positive Retail Sales report that is already generated by the market. 
The forex market is also moved by the last records in Bitcoin - ever time high over $50000 and also the record Oil price since December 2019. 
All these events may continue to support the Dollar in the next couple of hours. The tendency for Dollar recovery may stop on Wednesday (Feb 17th 2021) when plans to start into long positions with a new target of 50-80 pips above or close to today's pick at 1.2169. 


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