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Jan 05 - 02:55 AM

EUR/USD - Eyes A Bullish Resumption Above Double Day High

By Peter Stoneham  —  Jan 05 - 02:10 AM
  • Daily momentum flips back to positive after brief foray below the zero line

  • However, early Thurs stalling at 10DMA, 1.0631, just ahead of the Wed high

  • Up-trend from Nov. 3 has been damaged and only resumes above 1.0715

  • Double day highs at 1.0715, Dec. 30 and Jan. 2

  • Downside and a minimum correction level at 1.0499, 23.6% 0.9730-1.0737

  • We lean bullish but are side lined for now

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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