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Apr 25 - 04:55 AM

EUR/USD - Chart Points To A Collapse Under The 2020 Low

By Martin Miller  —  Apr 25 - 02:35 AM
  • EUR/USD heads lower as the long upper shadow on Thur's candle weigh

  • That long upper shadow is a clear indication the upside has been rejected

  • Fourteen-day momentum remains negative, reinforcing the bearish market

  • There is scope for a drop under the 2020 1.0636 low eventually

  • We are looking to get short at 1.0850, ahead of Monday's 1.0852 (EBS) high

  • History suggests dollar bulls look beyond the Fed nL2N2WK0HD

  • EUR/USD Trader TGM2334. Previous nL2N2WK0CY

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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