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Jun 03 - 03:55 AM

EUR/USD - Upside Limited By Thick Daily Cloud Resistance

By Martin Miller  —  Jun 03 - 02:55 AM
  • EUR/USD's recent rise has been stymied by the key 1.0787 Fibo

  • 1.0787 Fibo, a 38.2% of the 1.1495 to 1.0349 (EBS) fall

  • Thick daily cloud, that spans the 1.0765-1.0930 region, offering resistance

  • Expectation for a bear resumption to eventually retest the 1.0620 Fibo

  • 1.0620 Fibo is a 38.2% retrace of the 1.0349-1.0787 May recovery

  • Dollar usually has a tough time in June nL1N2XP0GQ

  • EUR/USD Trader TGM2334. Previous EUR/USD update nL1N2XP091

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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