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Dec 24 - 03:55 AM

EUR/USD - More Likely To Gain Than Fall As Dollar Remains Soft

By Martin Miller  —  Dec 24 - 02:43 AM
  • GBP gains, USD on back foot amid hopes Brexit deal imminent nL1N2J4096

  • Large long lower shadow on Mon's candle line props up EUR/USD

  • Positive alignment of the tenkan and kijun lines highlight the bullish bias

  • Setbacks on Tuesday and Wednesday have failed to drop under Mon's 1.2130 low

  • Thursday has seen a tight EUR/USD 1.2185-1.2216 EBS range so far

  • Euro demand could grow in the New Year nL1N2IV0X9

  • Recent EUR/USD longs offload great news for bulls nL1N2J10GZ

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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