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Jul 05 - 11:55 AM

EUR/USD - Could Be About To Turn

By Martin Miller  —  Jul 05 - 09:42 AM
  • EUR/USD left a long shadow on Friday's candle = possible downside rejection

  • The failure to close under the broken 1.1837 Fibo is also a bullish sign

  • 1.1837 Fibo is a 76.4% retrace of the 1.1704 to 1.2266 (March to May) rise

  • Scope grows for a bigger recovery to 1.1915 Fibo resistance

  • 1.1915 Fibo is a 23.6% retrace of the 1.2266 to 1.1807 (May to July) drop

  • EUR/USD Trader TGM2334. Previous update nL2N2OH09D

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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