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Sep 04 - 05:00 AM
EUR/USD - Tuesday Rebound Lights Up A Significant Candle
First appeared on eFXplus on Sep 04 - 02:45 AM
  • Potential for a major correction or even a trend reversal
  • Tues action delivered hammer candle and if confirmed could be significant
  • Retrace levels off recent 1.1164 to 1.0926 drop provide initial resistance
  • The 38.2% is at 1.1017 and 50% at 1.1045: Weekly trend res. at 1.1144
  • We took a long at 1.0975, close to market, for 1.1095 with a 1.0925 stop
  • A counter trend trade until reversal confirmed hence tight stop

EUR/USD Trader

EUR/USD Daily Candlestick Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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