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Jan 19 - 05:55 AM

EUR/USD's Hammer Candle And Bear Trap Under A Fibo A Warning

By Martin Miller  —  Jan 19 - 03:36 AM
  • Small hammer on Monday's candle is a warning sign of a larger recovery

  • Hammer: a small real body near high, small upper shadow, long lower tail

  • That warning has been amplified by the bear trap left under the 1.2064 Fibo

  • 1.2064 Fibo -- 38.2% retrace of the 1.1602 to 1.2349 (Nov to Jan) EBS rise

  • A bear trap is set when a market breaks below a level but then reverses

  • EUR/USD Trader TGM2334. Previous update nL1N2JT110

Daily Chart: Click here

Refinitiv IFR Research/Market Commentary


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