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Thomson Reuters
Oct 03 - 05:00 AM
EUR/USD's Bounce A Positive Sign, But Key Fibo May Cap Gains
First appeared on eFXplus on Oct 03 - 03:00 AM
  • Support found ahead of 1.1497 Fibo, 61.8% of 1.1301 to 1.1815 (EBS) rise
  • EUR/USD has bounced well above the 30-day lower bolli-band (now at 1.1520)
  • As it broke under the bolli-band on Tues, the bounce is a positive sign
  • However overall bias marginally bearish while the 1.1624 Fibo remains intact
  • 1.1624 Fibo is 38.2% retrace of the 1.1815 to 1.1506 drop
  • Short at 1.1575 with a stop above the 1.1624 key Fibo. Previous

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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