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Aug 17 - 04:55 AM

EUR/USD - Bears Overcome 2 Tech Levels, A Bigger Slump Is Likely

By Martin Miller  —  Aug 17 - 02:35 AM
  • EUR/USD on Wed broke and closed under the daily cloud and the 1.0880 Fibo

  • The daily cloud currently spans the 1.0932-1.0997 region

  • 1.0880 Fibo, is a 61.8% retrace of the 1.0635-1.1276 (May-July) EBS rise

  • 14-day momentum remains negative, reinforcing the overall bearish market

  • We remain short at 1.0945 for losses to the 1.0786 Fibo

  • 1.0786 Fibo is a 76.4% retrace of the same 1.0635-1.1276 rise

  • EUR/USD Trader TGM2334. Short at 1.0945. Previous update nL1N39X0FR

Source:
Refinitiv IFR Research/Market Commentary

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