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Refinitiv
May 21 - 09:48 PM

EUR/USD - Shorts Lured By Possible Cloud, Fibo, Channel Break

By Ewen Chew  —  May 20 - 09:55 PM
  • EUR/USD submerging below Fibo support 1.0964 lures more sellers

  • Turnaround before 200 DMA comes after FOMC minutes nL1N2D21OD

  • US Fed not addressing possibility of negative rates

  • Bearish EUR/USD bias stronger on close below 1.0929

  • Would be under Ichimoku Cloud, out of Bollinger uptrend channel

  • Shorts may then pile in, eyeing sharper drop to 1.0838 Fibo
















Source:
Refinitiv IFR Research/Market Commentary

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