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Feb 05 - 04:55 AM

EUR/USD's Recovery Should Be Limited By Key Tech Resistance

By Martin Miller  —  Feb 05 - 02:59 AM

• Long-tails on Monday and Tuesday candlesticks point to a downside rejection

• Also fourteen-day momentum has been positive since Jan. 20

• However the thick Ichimoku cloud supply should limit further recovery moves

• The daily cloud currently spans the 1.0444-1.0634 region

• We are now short at 1.0400 in anticipation for a bearish resumption

• EUR/USD Trader . Previous update

Daily Chart:


(Martin Miller is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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