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Aug 15 - 11:00 PM
EUR/USD - Downside Bias Reset, While Trend Resistance Caps
First appeared on eFXplus on Aug 15 - 09:05 PM
  • Off 0.1%, extending the offshore 0.2% loss, which reset the negative bias
  • Yesterday's sharp dovish turn in ECB expectations weighs
  • Charts are bearish - 5, 10 & 21 daily weekly and monthly MAs track south
  • Initial longer term target would be 1.0862, 76.4% of the 2017/2018 rise
  • First supports come in at the NY 1.1091 low then 1.1079, 76.4% of Aug bounce
  • Close above TL from the June high, today at 1.1206 would undermine bias

eur aug 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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