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Jun 03 - 01:55 PM

EUR/USD - Shorts Likely Targeting Near 1.2000

By Christopher Romano  —  Jun 03 - 11:44 AM
  • Fed, US econ data nL2N2NL0XEnN9N2KB01B rally US$, US interest rates

  • EUR/USD falls below the 10- & 21-DMAs, break other key supports

  • 23.6% Fib 1.1704-1.2266, May 17 low break then a 14-session low is set

  • Falling daily, monthly RSIs imply downside momentum is in place

  • EUR/USD shorts are gaining confidence as bearish signals are increasing

  • Decent support by May 13 low, 38.2% fib 1.1704-1.2266 which is near 1.2050

  • Break of that support should see daily cloud, 200-DMA, 1.2000 area targeted

  • For more click on FXBUZ


eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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