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Aug 09 - 02:55 AM

EUR/USD - FX Traders Should Be Wary Of A Larger Snap Back

By Peter Stoneham  —  Aug 09 - 01:34 AM
  • Traders should be wary of a snap back given speed-magnitude of Frid's drop

  • New 1.1742, EBS pricing, trend low early Mon adds to bearish risk though

  • Modest rebound seen, adjustment could accelerate above 1.1784 pivot

  • Still respect the Jul 22 moving average death cross (55-200DMAs)

  • Looking for better levels to fade the correction

  • We offer by 1.1810 for targets below 1.1700

  • Minimum correction off recent 1.1909-1.1742 drop is 1.1781

    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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