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Apr 26 - 03:55 AM

EUR/USD - Chart Clearly Shows Traders Have Rejected The Upside

By Martin Miller  —  Apr 26 - 02:20 AM
  • EUR/USD heads lower as the long upper shadow on Thur's candle weigh

  • That long upper shadow is a clear indication the upside has been rejected

  • Fourteen-day momentum remains negative, reinforcing the bearish market

  • There is scope for a drop under the 2020 1.0636 low eventually

  • We are looking to get short at 1.0810, ahead of tenkan line at 1.0817

  • No Macron win relief nL2N2WM0CI. Unstoppable dollar march nL2N2WN0H2

  • EUR/USD Trader TGM2334. Previous nL2N2WN0CU

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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