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Aug 12 - 04:55 AM

EUR/USD - Weeklies Give The Better Clues For Direction

By Peter Stoneham  —  Aug 12 - 03:35 AM
  • Daily range break holding but contained

  • Highs of 1.0369 and 1.0364, just shy of a 1.0370 50% Fibo

  • The 55DMA also in the mix at 1.0366

  • We lean bullish and bid by 1.0270 for 1.0525, currently the 100DMA

  • Momentum is positive but RSI has turned over

  • Weekly chart still supporting the long play

  • W/e Jul 15 hammer candle is playing out well

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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