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May 03 - 01:55 PM

EUR/USD - Longs Get Some Relief But It Could Be Short Lived

By Christopher Romano  —  May 03 - 12:57 PM
  • EUR/USD falls to a 6-session low (1.2013 EBS) but then rallies sharply

  • US interest rate complex weakens after April ISM manufacturing PMI

  • US$ selling drives EUR/USD above the 10-DMA but some gains erode

  • A large daily doji candle forms, a doji implies indecision

  • The daily cloud top begins falling again tomorrow; support is fading

  • EUR/USD bulls need a close above 10-DMA, 1.2075/80 to take greater control

  • For more click on FXBUZ






eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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