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Jul 18 - 03:55 AM

EUR/USD - Recovery Likely Will Fade Out As Chart Remains Negative

By Martin Miller  —  Jul 18 - 02:35 AM
  • EUR/USD last week traded at the lowest levels seen since Dec 2002

  • 14-week momentum is negative, highlighting the underlying bearish market

  • As does the negative alignment of the daily tenkan and kijun lines

  • Sustained trading under the recently broken parity level needed

  • That would accelerate the drop through Dec 2 2002 0.9860 (EBS) low

  • We are short at 1.0080 for more sustained bearish moves in coming sessions

  • EUR/USD Trader TGM2334. Previous EUR/USD update nL1N2YV1GO

Source:
Refinitiv IFR Research/Market Commentary

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