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Sep 04 - 07:55 AM

EUR/USD - Several Factors May Encourage EUR/USD Traders To Gamble

By Jeremy Boulton  —  Sep 04 - 05:55 AM
  • Bullish traders build $13 billion EUR/USD long position nL1N3KM09L

  • EUR/USD has risen from 1.0601 in April to 1.1201 in August

  • Drop to 1.1026 in September follows overbought situation

  • EUR/USD is no longer overbought and chart looks bullish

  • Lows stepping up toward 1.07 in July, then 1.08 in August

  • Good chance that low following current correction higher than 1.08

  • Golden Cross imminent - 100-DMA rising above 200-DMA

  • Targets for bigger rise: 1.1255, 1.1326, 1.1478 and 1.1626

Source:
Refinitiv IFR Research/Market Commentary

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