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Jun 18 - 04:55 AM

EUR/USD - A EUR/USD Collapse To A Key Fibo Is On The Cards

By Martin Miller  —  Jun 18 - 02:50 AM
  • A bearish engulfing pattern formed on last week's Wed and Thurs candles

  • Pattern: smaller, white-bodied candle followed by a larger black one

  • On Fri it closed under the 1.1258 Fibo, but subsequently reversed: bear trap

  • However, this Wed has seen another close under the 1.1258, a bearish sign

  • 1.1258 Fibo, a 23.6% retrace of the 1.0728 to 1.1422 (April to June) rise

  • 1.1157 Fibo (38.2%) exposed. EUR/USD Trader TGM2334. Previous nL1N2DU077

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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