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Dec 08 - 04:55 AM

EUR/USD - Chart Shows A Growing Downside Risk

By Martin Miller  —  Dec 08 - 03:00 AM
  • Fourteen-day momentum remains negative since early November

  • Bearish alignment of the tenkan and kijun lines adds to the negative outlook

  • Interim resistance weighs between 21-DMA, now at 1.1317, Dec 2 1.1347 high

  • Last week's 1.1387 peak should act as a barometer for direction

  • A break above the 1.1387 peak will signal a bullish revival

  • Dollar could be in for another rough December nL1N2SR1XL

  • EUR/USD Trader TGM2334. Previous update nL1N2SS0G5

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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