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Thomson Reuters
May 15 - 06:12 AM
EUR/USD - Bears Survive Recent Squeeze As Key Fibo Capped Mkt
First appeared on eFXplus on May 15 - 04:05 AM
  • Bears in control as the recent recovery was capped right at key 1.1996 Fibo
  • 1.1996 Fibo -- 23.6% retrace of the 1.2556 to 1.1823 (February to May) fall
  • Fourteen-week momentum negative, reinforcing the overall bearish structure
  • We remain short at 1.1920 for losses down through recent 2018 1.1823 low
  • Our stop remains well above the 1.2000 psychological level

EUR/USD Trader:

Weekly Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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