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Aug 29 - 02:55 AM

EUR/USD - Looking To December 2002 Lows After Weak Close

By Peter Stoneham  —  Aug 29 - 01:45 AM
  • Friday action saw a rally above the 10-DMA then a 5-session high, 1.0090

  • Late slide left a long upper candle shadow: price turned negative into Mon

  • Bearish signals intensifying and we have an offer at 0.9995 (EBS pricing)

  • Early high of 0.9988 just missing the trigger

  • We may need to revise the strategy on a weak Monday close

  • Market now looking to the December 2002 lows of 0.9860

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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