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Oct 27 - 05:55 AM

EUR/USD - Chart Outlook Mixed As Thursday's Candle Hints At A Base

By Martin Miller  —  Oct 27 - 03:50 AM
  • EUR/USD closed above the 1.0643 Fibo but has since relapsed

  • 1.0643 Fibo is a 23.6% retrace of the 1.1276-1.0448 (Jul-Oct) EBS drop

  • That is a bull trap that is usually a bearish sign

  • We are short at 1.0630 for a slump to eventually retest the 2023 1.0448 low

  • Bears beware the long tail on Thursday's candle hints at a possible base

  • EUR/USD Trader TGM2334. Previous update nL1N3BW0O5

  • Dollar buyers have turned up the heat on trapped shorts nL1N3BW0Y2

Source:
Refinitiv IFR Research/Market Commentary

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