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Jan 12 - 04:55 AM

EUR/USD's Close Above Tenkan Line Is A Warning To Bears

By Martin Miller  —  Jan 12 - 03:55 AM
  • EUR/USD's 14-day momentum remains negative, reinforcing the bearish market

  • But spot saw a daily close back above the tenkan line, in a warning to bears

  • Tenkan line is the midpoint of the last 9 trading sessions, now at 1.0962

  • Those that are bearish need EUR/USD to break under the 1.0875 Fibo

  • 1.0875 Fibo is a 38.2% retrace of the 1.0448 to 1.1139 (Oct to Dec) EBS rise

  • EUR/USD Trader TGM2334. Previous update nL1N3E10L9

Source:
Refinitiv IFR Research/Market Commentary

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