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Aug 16 - 03:55 AM

EUR/USD - Candlesticks Point To A Rejection Of The Upside

By Martin Miller  —  Aug 16 - 02:35 AM
  • Large upper shadow on last Thur's candle, highlights an upside rejection

  • There is a smaller upper shadow on Tue's candle that adds to the bear bias

  • Those that are bearish need a daily close under recently broken 1.0880 Fibo

  • 1.0880 Fibo is a 61.8% retrace of the 1.0635-1.1276 (May-July) EBS rise

  • A close under the daily cloud, that spans 1.0888-1.0946, also needed

  • USD bulls really need a break above a major tech level nL1N39W0LU

  • EUR/USD Trader TGM2334. Short at 1.0945. Previous update nL1N39W0GA

Refinitiv IFR Research/Market Commentary


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