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Jul 30 - 04:55 AM

EUR/USD - Any EUR/USD Near-Term Dip Should Be Contained By A Key Fibo

By Martin Miller  —  Jul 30 - 02:40 AM
  • After an extended July rise, market will likely encounter a short-term dip

  • We are looking to get long on dips at 1.1660, ahead of the 1.1656 Fibo

  • 1.1656 Fibo is a 23.6% retrace of the 1.1168 to 1.1807 (EBS) rise

  • Fourteen-week momentum remains positive = medium-term market bullish

  • Overall scope is for an eventual break above major 1.1823 Fibo

  • 1.1823 Fibo is a 61.8% retrace of the 1.2556 to 1.0636 (2018-2020) drop

  • EUR/USD Trader TGM2334. Previous EUR/USD update nL2N2F008P

  • Dollar in trouble as Federal Reserve faces viral wave nL2N2F00C9

Daily Ichimoku Chart: Click here

Weekly Fibo Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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