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Dec 29 - 03:55 AM

EUR/USD - Pullback Could Go Deeper After Thursday Failure

By Peter Stoneham  —  Dec 29 - 02:35 AM
  • Shooting star type candle Thursday: set for the same on weeklies (bearish)

  • New trend high of 1.1139: can sometimes see a trend accelerate before a turn

  • EUR failed just ahead of the 200-week moving average, 1.1155

  • However, year-end market thin and direction clouded by limited liquidity

  • Too early to write off the underlying bull bias but cracks are appearing

  • Resistance is at Thursday's 1.1139 high and break targets 2023 high @ 1.1276

  • Support point at 1.1041, 23.6% Fibo off the 1.0724-1.1139 climb

  • Key support 1.0825, weekly Ichimoku cloud top

  • U.S. yield rebound following Thurs data: highlights rate outlook jitters

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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