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Thomson Reuters
May 31 - 05:00 AM
EUR/USD - "oversold", Scope Grows For A Recovery To 30-DMA
First appeared on eFXplus on May 31 - 02:45 AM
  • EUR/USD bears are struggling to break below the 2019 1.1106 low
  • Means market could be "oversold" as it is trading near 30-day lower BB
  • Risk growing for gains back towards the 30-DMA, now at 1.1183
  • Break and daily close above 30-DMA will unmask the 1.1215 Fibo for a retest
  • 1.1215 Fibo is a 23.6% retrace of the 1.1570 to 1.1106 (2019) drop
  • Bid now at 1.1120. EUR/USD bears have been focused on 2019 low

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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