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EUR/USD technical analyst says risk towards 1.08 before next rally


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Via Lloyds technical analysis comes this on the euro


In summary:

  • risk of a further decline towards next important Fibonacci support in the 1.0815 region
  • Intra-day resistance lies in the 1.0925-1.0965 region, with a move back through there suggesting a near-term base is in place, but we would need to see a move back through 1.1050 and then 1.115 to confirm a real reversal is in play
  • Overall, we still view the ‘wedge’ pattern since September 2018 as an ending process, but still need evidence of a base being in place by way of a rally through 1.1110 and then 1.1300. This would open a move back towards the 1.16-1.18 range highs.

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