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Jul 09 - 04:55 PM

EUR/USD - Base Building Recovers Post-Payroll Derisking Drop

By Randolph Donney  —  Jul 09 - 02:53 PM

  • EUR/USD rebound from Wednesday's oversold trend low rises with risk

  • Stocks recovery lowers demand for haven Treasuries, dollars

  • Downtrend from June 25 swing high being undone above TL, tenkan

  • Fed, ECB seen waiting for more data before tapering

  • 23.6% Fibo of 5-wave downtrend from May high & Wed's high are at 1.1895

  • A close above 1.1900 is needed to trigger bigger retracement

  • Kijun, 30- and 200-DMAs are clustered around 1.2000

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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