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Dec 29 - 04:55 PM

EUR/USD - Balanced Risks Help Keep Key Fibo Magnetic

By Christopher Romano  —  Dec 29 - 12:55 PM
  • EUR/USD opened NY near 1.1080, pair then fell to 1.10425 on EBS

  • UDS/CNH rally to 7.1300, equity ESv1 & gold XAU= drops weighed

  • US yields US2YT=RR slid & US$ buys halted, risk improved slightly

  • EUR/USD rallied above 1.1060, was near flat on the session late in the day

  • Pair traded just below the 76.4% Fibo of the 1.1276-1.0448 decline

  • Daily doji formed & daily RSI slid, are concerns for longs

  • Monthly techs remain bullish, implies corrections lower may be limited

  • China December NBS mfg PMI is a data risk due over the weekend

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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