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Dec 02 - 03:55 AM

EUR/USD - This Is A Good Point For EUR/USD Traders To Book Profits

By Jeremy Boulton  —  Dec 02 - 02:50 AM
  • Traders are heavily long and making money

  • There is never a bad time to book profits, perhaps a better one

  • EUR/USD is approaching target for min tech correction of the downtrend

  • A 38.2% retrace 1.2266-0.9528 drop is 1.0574

  • EUR/USD is relatively overbought - at 1.0532 peak 20-day Bollingers bands

  • Notable bearish signal - 100-WMA 1.1196 crossing below 200-WMA 1.1251

  • It's almost year-end- a period that often sees risk pared


Source:
Refinitiv IFR Research/Market Commentary

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