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Jun 27 - 03:55 AM

EUR/USD's Solid Technical Supply Could Lead To A Bigger Fall

By Martin Miller  —  Jun 27 - 02:50 AM
  • EUR/USD's recovery attempts have so far been halted by the daily cloud

  • Daily cloud currently spans the wide 1.0583-1.0767 region

  • Scope is for an eventual break under the 1.0453 Fibo, weakening the outlook

  • 1.0453, a 61.8% retrace of the 1.0359 to 1.0606 recent gain

  • Daily close sub 1.0453 Fibo would expose 2022 1.0349, 2017 1.0340 (EBS) lows

  • We are short at 1.0550 for losses to our 1.0360 target, stop is at 1.0645

  • EUR/USD Trader TGM2334. Previous EUR/USD update nL1N2YB0A7

Source:
Refinitiv IFR Research/Market Commentary

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