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Oct 04 - 06:12 AM
EUR/USD - Failed Above Kijun, Increasing The Downside Risk
First appeared on eFXplus on Oct 04 - 03:55 AM
  • EUR/USD failed above the kijun line, which remains at 1.0994, on Thursday

  • A high was left at 1.0999, that continues to weigh on this market

  • The tenkan and kijun lines remain negative aligned = bearish

  • A daily close above the kijun line needed to increase the upside potential

  • As the outlook is mixed, it is prudent to remain on the sidelines

  • It usually doesn't pay to go long EUR/USD in October nL2N26O084

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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