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Apr 30 - 03:55 AM

EUR/USD - Chart Shows A Market On The Verge Of A Bear Resumption

By Martin Miller  —  Apr 30 - 02:25 AM
  • EUR/USD's failure earlier in April under 1.0611 Fibo led to a rebound

  • 1.0611 Fibo is a 76.4% retrace of the 1.0448-1.1139 (Oct-Dec) EBS rise

  • Despite that failure, negative 14-day momentum highlights a bearish market

  • The negative alignment of the tenkan and kijun lines also points to a drop

  • We are short at 1.0725 in anticipation of a slump to our 1.0525 target

  • EUR/USD Trader TGM2334. Previous update nL1N3H20HM

  • Speculators pile into the dollar for two major reasons nL1N3H10IN

Refinitiv IFR Research/Market Commentary


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