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Jul 15 - 04:55 AM

EUR/USD - Chart Bearish While Spot Is Under Monday's High

By Martin Miller  —  Jul 15 - 03:07 AM
  • EUR/USD recovery attempts needs to break back above Mon's 1.1884 (EBS) high

  • Spot's big drop on Tuesday puts the overall bias on the downside

  • Scope is for an eventual drop under the April 5 1.1738 low

  • That would unmask the 2021 1.1704 low posted in March and 1.1695 Fibo

  • 1.1695 Fibo is a 38.2% retrace of the 1.0636 to 1.2349 (2020 to 2021) rise

  • Fed's Powell key to the direction of the dollar nL1N2OQ0N0

  • EUR/USD Trader TGM2334. Previous update nL1N2OQ0DX

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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