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Aug 12 - 03:55 AM

EUR/USD - FX Traders Who Faded 10DMA Are Doing Well

By Peter Stoneham  —  Aug 12 - 02:05 AM
  • Failed to hold a rebound Tues and bears back in control

  • Fading 10DMA call, 1.1799, playing out nicely so far nL1N2FD05J

  • Long upper shadow Tues highlights demand fade

  • Aug 3 1.1695 low remains pivotal and now initial support

  • 21DMA provides next key support at 1.1676

  • 14-day positive momentum slipping and confirming price weakness

  • Minimum retrace off 1.1169-1.1916 move met at 1.1740, next 38.2% at 1.1631







EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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