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Thomson Reuters
Sep 06 - 05:00 AM
EUR/USD - Dips Are Corrective, Fourteen-Day Momentum Positive
First appeared on eFXplus on Sep 06 - 03:20 AM
  • Bulls managed to prevent a daily close below the 30-DMA on Wed
  • Bulls are in control after finding solid support ahead of key 1.1518 Fibo
  • 1.1518 Fibo level is a 50 percent retrace of the 1.1301-1.1734 recent rise
  • Fourteen-day momentum remains positive, reinforcing the upside bias
  • We remain long at 1.1550 for eventual gains our 1.1695 target
  • We have now raised our trailing stop to the 1.1570 level

EUR/USD Trader:

Daily Bollinger Chart: Click here

Source:
Thomson Reuters IFR Markets

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