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Mar 12 - 03:55 AM

EUR/USD - Could Be On The Verge Of Bigger Gains To A Key Fibo

By Martin Miller  —  Mar 12 - 02:06 AM
  • Failure to maintain trading under the 1.1887 Fibo was a warning to bears

  • 1.1887 Fibo is a 61.8% of the 1.1602 to 1.2349 (Nov to Jan) rise

  • Market broke and closed above the tenkan line, currently at 1.1975, Thurs

  • That increases the odds for further gains to the 1.2040 Fibo

  • 1.2040 Fibo is a 50% retrace of the 1.2244 to 1.1836 March (EBS) relapse

  • EUR/USD Trader TGM2334 Previous update nL1N2L90FT

  • Benign U.S. CPI data like Kryptonite to dollar gains nL1N2L90JX

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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