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Jan 29 - 03:55 AM

EUR/USD - Traders Should Prepare For A Deeper Drop

By Jeremy Boulton  —  Jan 29 - 02:29 AM
  • Weight of longs is telling on a stalled EUR/USD rally nL1N2K30PW

  • Pair is confined to lower half 20-day Bolinger bands which are falling

  • 20-day Bollinger bands 1.2310, 1.2170, 1.2031

  • Today's range 1.2095-25 EBS extends a run of 5 lower daily highs (bearish)

  • Support at 55-DMA 1.2110 and daily cloud top 1.2114 may become resistance

  • Targets for deeper correction: 1.1976, 1.1887 but no deeper than 1.1778





EURUSD ichimoku Click here

EURUSD Click here

EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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