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Jul 06 - 02:55 AM

EUR/USD - Will Drop After Current Oversold Situation Resolved

By Jeremy Boulton  —  Jul 06 - 02:15 AM
  • EUR/USD has dropped below base 20-day bollingers at 1.0289

  • It took huge 1.0449-1.0236 EBS drop on Jul 6 to achieve this

  • Jul 7 range 1.0239-1.0271 is close to the base of Jul 6 drop

  • The consolidation near the low is a bearish sign

  • Base 20-week is 1.0207, 20-month 1.0287 and falling steeply

  • Deeper losses towards key 1.0072 are likely nL1N2YM0IT



Source:
Refinitiv IFR Research/Market Commentary

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