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Dec 20 - 04:55 AM

EUR/USD - Chart Shows An Upside Rejection, Two Key Levels Weigh

By Martin Miller  —  Dec 20 - 02:35 AM
  • EUR/USD's large upper shadow on Thur's candle points to an upside rejection

  • The negative alignment of the tenkan and kijun lines is also bearish

  • However spot's big drop, Wednesday, failed to break 2024 1.0332 (EBS) low

  • 2024 1.0332 low was posted back in November, bears need break below here

  • Near-term recovery attempts will likely be limited by Thursday's 1.0422 high

  • A break and close above the kijun line, which is currently at 1.0481

  • The daily kijun line is the midpoint of the last 26 trading sessions

Source:
London Stock Exchange Group | Thomson Reuters

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