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Nov 08 - 03:48 PM
EUR/USD - Falls Further Into That Sinking Tech, Trade News Feeling Again
First appeared on eFXplus on Nov 08 - 01:30 PM
  • EUR/USD began day on a weak note after 30-DMA capped nL2N27O0HZ

  • Losses extended well below the 50% Fibo of Oct's rise at 1.1029

  • 1.1029 is also the weekly kijun, so weekly close below more bearish

  • Downtrend further fuelled by GBP/JPY and EUR/JPY selling nL2N27O0V8

  • Closing in on props by 1.1000, but cable's range low break is bearish

  • A flurry of UK data early next week could be possible catalyst

  • A sub-1.0994 61.8% Fibo close would eye 1.0879 multi-year lows

Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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