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Thomson Reuters
May 22 - 03:48 AM
EUR/USD - Weak, Lower Bollinger-Band Near 2019 Low Beckons
First appeared on eFXplus on May 22 - 02:15 AM
  • EUR/USD's bias remains on downside as the recent double failure last week
  • Market failed twice to register a close above the 30-DMA, now at 1.1209
  • Risk for a drop under 30-day lower bollinger, now at 1.1118, 2019 1.1110 low
  • 10-DMA and 30-DMA negative aligned, adding to the bearish bias
  • We remain short at 1.1220 in anticipation for our 1.1100 target
  • Trailing stop lowered to 1.1190. Previous update

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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