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Aug 20 - 04:55 AM

EUR/USD - A Healthy EUR/USD Correction But It May Not Be Enough

By Jeremy Boulton  —  Aug 20 - 02:50 AM
  • EUR/USD has retraced 50% of August's rise

  • 1.1830 is 50% 1.1695-1.1966 August rise. Low today 1.1831 EBS

  • The rally had become very stretched. Longs had grown huge

  • There is a high probability of a deeper pullback nL1N2FM08C

  • 61.8% and 76.45 retraces of August rise are 1.1785 and 1.1759

  • The minimum tech objective of the rise from June's low is 1.1661

  • The minimum tech objective of rise from March low is 1.1458

  • Most longs were making money. Profitable trades usually re-established




EUR/USD August correction Click here

A massive gambling spreee Click here

EUR/USD retracements June low Click here

Source:
Refinitiv IFR Research/Market Commentary

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