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Aug 17 - 03:55 AM

EUR/USD - Increasing Risk Of Profit Taking At 2020 High

By Peter Stoneham  —  Aug 17 - 02:25 AM
  • Constructive daily and weekly action points to a 1.1916 2020 high test

  • First test likely to attract profit taking from an overly long market

  • Consecutive closes above the 10DMA noted and new recovery high at 1.1868

  • 14-day momentum increasing and RSI above 68.00

  • Dip buying favoured strategy for 1.1916 and the Aug 6 high now pivotal

  • Reversal tipping point at 1.1695, Aug 3 low: 1.1711 Aug 12 low ahead






EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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