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Feb 27 - 05:00 AM

EUR/USD - Coronavirus Delivers EUR/USD To Area Where Shorts Must Be Considered

By Jeremy Boulton  —  Feb 27 - 03:05 AM
  • Short covering has lifted EUR/USD above 21-DMA @ 1.0911

  • Month-end flows are contributing to support nL2N2AR06W

  • Pair close to meeting requirement of minimum tech correction from 1.1240

  • That correction (1.0954) will improve the health of the underlying downtrend

  • Rise orderly and those buying are very likely doing so for a profit

  • Profitable positions are usually re-established

  • Bet the next EUR/USD range is 1.07-1.10 nL2N2AP05R
















EUR/USD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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