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Aug 30 - 03:55 AM

EUR/USD - Breaks Key Fibo Resistance, Bulls Need A Close Above

By Martin Miller  —  Aug 30 - 02:06 AM
  • EUR/USD's recent recovery has now breached key 1.1806 Fibo resistance

  • 1.1806 Fibo is a 23.6% retrace of the 1.2266 to 1.1664 (May to August) fall

  • A daily close above 1.1806 Fibo would unmask the 1.1894 Fibo

  • 1.1894 Fibo is a 38.2% retrace of the same 1.2266 to 1.1664 drop

  • Daily tenkan line, now at 1.1737, should limit near-term dips in the market

  • A break below tenkan line would shift bias lower. EUR/USD Trader TGM2334

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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