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Sep 20 - 01:55 PM

EUR/USD - Dip Buyers And Short-Squeeze Risk Emerge

By Christopher Romano  —  Sep 20 - 12:27 PM
  • EUR/USD falls to a 20-session low of 1.1700 on EBS as risk sours

  • Safe-havens US$, yen bought on Evergrande fears, EUR/JPY hits 128.155 on EBS

  • EUR/USD dip buyers emerge at 1.1700, sharp bounce ensues as US$ abates

  • Pair turns positive on the day;, daily bull hammer forms, daily RSI diverges

  • Divergence and hammer candle imply risk of a short squeeze is growing

  • Monthly techs remain bearish though, rallies are likely to be limited

  • For more click on FXBUZ

eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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