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Aug 17 - 03:55 AM

EUR/USD - Failure To Extend Friday Rally Is Significant

By Peter Stoneham  —  Aug 17 - 02:19 AM
  • Sting taken out of Friday's rally and focus returns to the downside

  • A resumption of the underlying bear trend from May the risk

  • Double day lows at 1.1704-06 the pivotal support

  • 50% Fibo of 1.1909-1.1706 and 30DMA contain topside at 1.1808

  • Daily RSI confirming pullback and negative momentum readings extending

  • Major levels a big figure apart: could see a repeat of the July range trade

    For more click on FXBUZ









EUR/USD Trader

EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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