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Aug 12 - 04:55 AM

EUR/USD - Short Squeeze Risk After Wed Reversal Signal

By Peter Stoneham  —  Aug 12 - 02:50 AM
  • Euro trying to lift after a Wed key day reversal

  • A lower low, higher high and close above the previous close

  • Decent bear run to reverse gives the signal credence but needs confirmation

  • Minimum correction off the recent 1.1909-1.1706 drop just cleared at 1.1754

  • If reversal holds 1.1784 is 38.2% Fibo of that move: could trigger a squeeze

  • Our 1.1790 offer taken off for now while the bull signal holds

  • Thursday close now key for the underlying short-term bear trend

    For more click on FXBUZ










EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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