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Aug 21 - 04:55 AM

EUR/USD - FX Traders Don't Yet Have The Key To The Big Level

By Peter Stoneham  —  Aug 21 - 02:40 AM
  • Wed adjust. healthy but a deeper correction needed if 1.2000 is the target

  • Better look to the EUR but bearish warnings could stifle further gains

  • Modest rebound ahead of 21DMA Thurs, 1.1793, and constructive into Fri

  • Former 1.1916 peak might attract profit taking but 1.1966 now key res.

  • 14-day momentum confirming gains, RSI climbing too

  • Long upper shadow on weekly candle a warning to bulls, cloud twists too

  • Consolidation inside monthly cloud but below mkt twists here too







EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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