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Apr 07 - 03:55 AM

EUR/USD - A EUR/USD Close Under Key Broken Fibo Needed To Weaken Further

By Martin Miller  —  Apr 07 - 02:00 AM
  • A bearish engulfing pattern formed on the EUR/USD daily chart last week

  • A smaller, white-bodied candle contained by a following larger black one

  • Market, on Wed, broke under the 1.0895 Fibo but failed to close below

  • A daily close below 1.0895 Fibo needed to spark a bigger collapse

  • 1.0895 Fibo is a 76.4% of the 1.1806 to 1.1185 (March) EBS recovery

  • We are looking to get short at 1.0945 in anticipation for a bigger fall

  • EUR/USD Trader TGM2334 Previous nL2N2W40A9

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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