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Thomson Reuters
May 15 - 06:12 AM
EUR/USD - Long Upper Shadows On Recent Candles Risks A Slump
First appeared on eFXplus on May 15 - 03:55 AM
  • EUR/USD left long upper shadows on Monday's and Tuesday's candlestick lines
  • That is reinforcing the likelihood of a big slump in coming sessions
  • Market structure weakens due to trading back below 30-DMA, now at 1.1223
  • We are looking to get short at 1.1220 which is just ahead of the 30-DMA
  • Would place a stop above the May's 1.1265/1.1264 near matching daily highs
  • EUR/USD bulls need a close above 30-DMA or a May peak break

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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