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Trading lower levels in EURUSD: Collins

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Alan Collins, from 3cAnalysis, says there are not many strong trends in the FX majors at the moment, but he's looking at the lower levels in EURUSD.

He notes that last week’s gains in EURUSD ended a sharp decline from February’s high. But despite bouncing from initial lows, only modest gains were posted.

He believes that rallies should find fresh sellers near the 1.1000/10 area. The risk level is currently assessed at 1.1058 and the downside targets are 1.0940, 1.0867 or even 1.0825.