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Jan 03 - 05:00 AM
EUR/USD - Battle Underway As Underlying Trend Weakens
First appeared on eFXplus on Jan 03 - 02:45 AM
  • All points south following Thursday sharp decline

  • 10 and 200DMAs provide initial support, 1.1150 and 1.1141

  • Underlying bull trend from October still intact but weakened

  • Daily bull momentum fading and close to zero, RSI slips from o/b

  • Bears have work to do but weekly action highlights major demand fade

  • We stand aside for now






EUR/USD Trader

EUR/USD Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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