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Jul 13 - 01:55 PM

EUR/USD - Longs In Jeopardy Due To Developing Pattern

By Christopher Romano  —  Jul 13 - 12:50 PM
  • EUR/USD rally off the July 7 low fails to sustain gains above the 10-DMA

  • Pair falls below the 10-DMA Tuesday on hot US CPI data nL1N2OO1VQ

  • Consolidation pattern now taking hold as pair sticks in 1.1775/1.1900 zone

  • Falling daily, monthly RSIs and EUR/USD below 10 & 21-DMAs concern longs

  • Break of July 7 low should trip stops, bears then target 1.1700/05

  • For more click on FXBUZ





eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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