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FxWirePro: EUR/USD extends weakness into European open

EUR/USD beraks below 100 DMA support at 1.1140, could target 1.1105 (base from Sept 23) Doji on Tuesday and inability to break cloud base resistance at 1.1260 on Wednesday confirms further downside Heading into the Europ…

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  • EUR/USD beraks below 100 DMA support at 1.1140, could target 1.1105 (base from Sept 23)

  • Doji on Tuesday and inability to break cloud base resistance at 1.1260 on Wednesday confirms further downside

  • Heading into the European session, EUR/USD is trading around 1.1150, after a brief drop below 100 DMA at 1.1140

  • Immediate resistance is seen at 1.1173 (200 DMA), and further at 1.1200, while cloud base at 1.1260 is seen as a strong resistance zone

  • Supports on the downside are initially at 1.1140 (100 DMA), and then 1.1100 (trend line support)

  • If the pair breaks below 1.1100, next bear targets are 1.1088/90 (double base Sept 3/4) and then 1.1022 (76.4% of July/Aug rally)

  • A raft of final manufacturing PMI reports from across the Euro zone will dominate the otherwise quiet EUR calendar

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