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Thomson Reuters
Nov 29 - 03:48 AM
EUR/USD - "bear Trap" Puts Key Fibos Above In The Crosshairs
First appeared on eFXplus on Nov 29 - 02:00 AM
  • EUR/USD temporary break below the 1.1276 Fibo Wed set up a classic bear trap
  • Bears were seeking a close sub 1.1276 to expose the 2018 low
  • 1.1276 is a 76.4% retrace of the 1.1472 to 1.1216 earlier November gain
  • Wed's subsequent recovery finished up 79 pips and above the 1.1345 Fibo
  • 1.1345 is a 38.2% retrace of the 1.1472 to 1.1267 (EBS) fall
  • Focus now on 1.1394/1.1424 Fibos, 61.8%/76.4% of same 1.1472-1.1267 drop

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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