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Jul 13 - 02:55 AM

EUR/USD - Chart Shows A Large Drop Under Parity Still Likely

By Martin Miller  —  Jul 13 - 01:55 AM
  • Dollar set to climb as EUR/USD teeters on the brink nL1N2YT0HL

  • 14-week momentum is negative, highlighting the underlying bearish market

  • As does the bearish alignment of the daily tenkan and kijun lines

  • A clean and sustained break below parity could accelerate the drop

  • That would increase the risk for a drop through December 2 2002 0.9860 low

  • We are looking to get short at 1.0080 in anticipation for a bigger drop

  • EUR/USD Trader TGM2334. Previous EUR/USD update nL1N2YT0BA

Source:
Refinitiv IFR Research/Market Commentary

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