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Jan 13 - 05:55 AM

EUR/USD - Chart Shows The Risk Of A Bigger Drop To Parity

By Martin Miller  —  Jan 13 - 03:48 AM

• Multiple reasons why EUR/USD will likely drop to parity

• Spot looks set to drop through 1.0196 Fibo, as 14-week momentum is negative

• 1.0196 Fibo is a 61.8% retrace of the 0.9528 to 1.1276 EBS rise

• A break below 1.0196 Fibo would unmask the 1.0000 psychological level

• Our offer has been lowered to 1.0350. EUR/USD trader

• There is interim resistance at the January 8 1.0357 high

Weekly Chart:


(Martin Miller is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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