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Jan 11 - 04:55 AM

EUR/USD - Chart Is Throwing Up Conflicting Signals

By Martin Miller  —  Jan 11 - 04:05 AM
  • FX traders beware EUR/USD usually drops in January nL1N3DZ2X2

  • As 14-day momentum remains negative, that points to eventual EUR/USD losses

  • However EUR/USD bears need a break and daily close under the 1.0875 Fibo

  • 1.0875 Fibo is a 38.2% retrace of the 1.0448 to 1.1139 (Oct to Dec) EBS rise

  • Spot is trading above tenkan line, at 1.0962, a close above would be bullish

  • Daily tenkan line is the midpoint of the last nine trading sessions

  • EUR/USD Trader TGM2334. Previous update nL1N3E00JO

Source:
Refinitiv IFR Research/Market Commentary

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