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Jul 15 - 03:55 AM

EUR/USD - Chart Still Bearish, Expect A Drop To Test 0.9860

By Martin Miller  —  Jul 15 - 02:45 AM
  • EUR/USD on Thursday traded at levels not seen since Dec 2002

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

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

  • Sustained trading under parity needed to accelerate the drop

  • That would put pressure on the Dec 2 2002 0.9860 low

  • Our 1.0080 short hit our 0.9960 target, we have a new offer at 1.0080

  • EUR/USD Trader TGM2334. Previous EUR/USD update nL1N2YV1GO

Source:
Refinitiv IFR Research/Market Commentary

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