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Dec 20 - 03:48 AM
EUR/USD - Large Upper Shadow On Thu's Candle Ups Odds For A Drop
First appeared on eFXplus on Dec 20 - 02:00 AM
  • Thu's large upside shadow weighs heavily on the market, ups odds for a drop

  • Risk grows for eventual losses under kijun at 1.1091 and cloud top at 1.1075

  • Jumped to 1.1200 last Fri, but subsequently faltered ahead of 1.1208 Fibo

  • 1.1208 Fibo, a 61.8% of the 1.1412 to 1.0879 (June to October) drop

  • Last Fri's very long upper shadow on its candle line = upside rejection

  • Previous update nL1N28T06M. EUR/USD Trading Page TGM2334

Daily Ichmoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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