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Thomson Reuters
Jun 24 - 11:00 PM
EUR/USD - Topside Break, Chart Suggests More Pain For Shorts
First appeared on eFXplus on Jun 24 - 08:55 PM
  • Flat, consolidating yesterday's 0.3% gain, as UST yields slipped
  • Hard to make a fundamental case for EUR strength - market still short
  • Yesterday's strong close validated Friday's bullish outside week
  • Close above 1.1348 200 DMA and 1.1392, 61.8% of 2019 fall, a strong break
  • Momentum studies head north, 5, 10 and 21 DMAs trend higher, positive setup
  • Next stop is the 1.1448 March high, then 1.1460, 76.4% of the 2019 fall
  • A close below the 1.1348 200 DMA needed to undermine the topside bias

eur jun 25 Click here

Source:
Thomson Reuters IFR Research/Market Commentary

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