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Apr 27 - 06:55 AM

EUR/USD - Dips After 18 Day Rally, 100-DMA Looms

By Jeremy Boulton  —  Apr 27 - 04:56 AM
  • EUR/USD rallied from Mar 31 low at 1.1704 to 1.2117 EBS yesterday

  • Pair sinks as low as 1.2058 EBS today, 100-DMA is 1.2055

  • Dip is a minor consolidation of prior rise

  • 23.6%/38.2% retrace Mar-Apr rise are 1.2020 and 1.1959

  • There are far fewer longs in place, less need for deep pullback

  • Centre 20-day Bollingers at 1.1940 should limit any retracement

  • Dips probably won't far exceed 1.2000 ahead test Feb's high at 1.2243



EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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