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Jul 26 - 03:55 AM

EUR/USD - Remains At Risk Of An Eventual Drop To A Major Fibo

By Martin Miller  —  Jul 26 - 02:30 AM
  • Fourteen-day momentum remains negative, reinforcing the bearish bias

  • Overall scope is for further losses towards the major 1.1695 Fibo

  • 1.1695 Fibo is a 38.2% retrace of the 1.0636 to 1.2349 (2020 to 2021) rise

  • The 1.1695 Fibonacci level is where solid support might return

  • Bulls need a break back above last Thursday's 1.1831 (EBS) high to defer

  • EUR/USD Trader TGM2334. Previous update nL1N2OY0ED

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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