EUR/USD:
The market has finally managed to find some bids and although the
broader underlying trend remains intensely bearish, the risks from here
are for additional corrective gains back towards the 50 and 100-Day S.M.As
in the 1.3100-1.3400 area before the next lower top carves out. Some
falling trend-line resistance has already been broken on the daily chart
and the 10-Day S.M.A looks to be on the verge of crossing back above the
20-Day S.M.A to provide added confirmation for short-term bullish
structural shift. Setbacks should now be well supported ahead of 1.2750,
while only back under 1.2620 negates short-term bull bias
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