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Sep 16 - 04:55 AM

EUR/USD - Chart Points To Losses, Despite Market Indecision

By Martin Miller  —  Sep 16 - 02:44 AM
  • EUR/USD weighed down by thick cloud, that spans thick 1.1805-1.1966 region

  • Market has been under pressure since the "bull trap" above 1.1894 Fibo

  • 1.1894 Fibo is 38.2% of the 1.2266 to 1.1664 (May to August) drop

  • A bull trap is set when a mkt breaks above a tech but subsequently reverses

  • Long lower shadow on Mon, followed by long upper shadow on Tuesday's candle

  • Overall bearish, but conflicting candles shadows highlight market indecision

  • EUR/USD Trader TGM2334. Previous update nL1N2QH0D6

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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