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Dec 09 - 04:55 PM

EUR/USD - Five-Day Lows As ECB, Brexit, U.S. Relief Bill Dent Risk Acceptance

By Content Admin  —  Dec 09 - 02:40 PM

  • EUR/USD uptrend's correction hits five-day lows as stocks, risk come off

  • Brexit, ECB easing, U.S. fiscal relief bill doubts dislodge some longs

  • Prices working off overbought readings from last week 2.5-yr peak

  • Daily tenkan support at 1.20425 on EBS looks pivotal on a closing basis

  • Hasn't been a close below it since closing above it on Nov. 5

  • Down TL from 2011 cleared on Nov. 27 will support at 1.1941 on Thursday

  • Broader uptrend is intact while above that line

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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