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Apr 13 - 04:55 AM

EUR/USD - Could Soar If It Holds Above Key Broken Fibo Resistance

By Martin Miller  —  Apr 13 - 02:36 AM
  • EUR/USD needs to sustain trading above broken 1.1910 Fibo resistance

  • 1.1910 Fibo is a 38.2% retrace of 1.2243 to 1.1704 (February to March) drop

  • That would increase odds of a test of the 1.1974 Fibo, March 11 1.1990 peak

  • 1.1974 Fibo is a 50% retrace of the same 1.2243 to 1.1704 drop

  • Last Wednesday and Thursday matching 1.1861 (EBS) lows should prop EUR/USD

  • EUR/USD Trader TGM2334. Previous update nL1N2M20GQ

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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