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Aug 01 - 03:48 AM
EUR/USD - Forms Biggest Black Candlestick Since March: Ominous
First appeared on eFXplus on Aug 01 - 01:50 AM
  • Large drop Wednesday to form the biggest black candle line since March 7
  • The size of the black candle, 86 pips according to EBS, is a bearish sign
  • Negative alignment of tenkan and kijun lines adds to underlying bearish bias
  • Short at 1.1150 in anticipation for eventual losses to our 1.1020 objective
  • Meanwhile our trailing stop has been lowered to 1.1095
  • EUR/USD bears in control until there is close above key Fibo

EUR/USD Trader:

Daily Candlestick Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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