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Jul 09 - 03:48 AM
EUR/USD - Bear Warning, Rebound Risk On Head And Shoulders Pattern
First appeared on eFXplus on Jul 09 - 02:15 AM
  • Tight Monday action looks to have taken sting out of Friday's slump
  • Daily momentum marginally negative: bias favours bears but n/t scope limited
  • Having dragged price sharply lower Frid the daily cloud now contains
  • Cloud base at 1.1191 pivotal today: break opens up key 1.1181 Jun 18 low
  • Indications of a left shoulder and a head on dailies
  • Potential for a return to the mid-1.13s if the right shoulder develops

EUR/USD Trader

EUR/USD Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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