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Oct 15 - 04:55 AM

EUR/USD - Bears In Danger, But A Drop To Key Fibo Support Likely

By Martin Miller  —  Oct 15 - 02:55 AM
  • Expectation is that the recent recovery attempt will likely be limited

  • But the recent daily close above the tenkan line at 1.1573 is a concern

  • There is still a good chance of an eventual drop to the 1.1493 Fibo

  • 1.1493: 50% retrace of the 1.0636 to 1.2349 (2020 to 2021) rise

  • We remain short at 1.1585 in anticipation for losses to 1.1350

  • Dollar's drop could potentially damage the uptrend nL1N2R936Z

  • EUR/USD Trader TGM2334. Previous update nL1N2RA0AS

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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