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Nov 04 - 04:55 AM

EUR/USD - Chart Continues To Point To Downside Dangers

By Martin Miller  —  Nov 04 - 03:15 AM
  • EUR/USD's scope grows for losses under 1.1522 2021 low, posted on Oct 12

  • Spot fell 120 pips last Friday, the biggest one-day drop since June

  • That left a "bull trap" above the key 1.1670 Fibo, a bearish signal

  • A bull trap is set when a mkt breaks above a level but subsequently reverses

  • 1.1670 Fibo: 38.2% retrace of the 1.1909 to 1.1522 (Sept to Oct) drop

  • EUR/USD Trader TGM2334. Previous update nL1N2RU0I3

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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