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May 13 - 04:55 AM

EUR/USD's Daily Chart Points To Collapse Under The 2017 Low

By Martin Miller  —  May 13 - 02:55 AM
  • EUR/USD's bear cycle from the March 31 1.1185 high continues

  • The downside bias is intact as 14-day momentum is negative = bearish

  • Expectation is for an eventual retest of the 2017 1.0340 low

  • Below which would accelerate losses further under 1.0300 psychological level

  • We have placed a sell order at 1.0440, well ahead of tenkan line at 1.0498

  • EUR/USD Trader TGM2334. Previous nL2N2X40IW

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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