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Sep 14 - 04:55 AM

EUR/USD - Chart Shows Bears Need To Overcome Key Fibo Support

By Martin Miller  —  Sep 14 - 03:10 AM
  • EUR/USD's overall bias is for an eventual drop under May 1.0635 (EBS) low

  • However, bears need to overcome key 1.0669 Fibo support

  • 1.0669 Fibo, a 76.4% retrace of the 1.0482 to 1.1276 (2023) rise

  • Fourteen-day momentum remains negative, reinforcing overall bearish bias

  • Tenkan and kijun lines increasingly negative aligned, this is also bearish

  • Short at 1.0770. EUR/USD Trader TGM2334. Previous update nL1N3AP0EY

Source:
Refinitiv IFR Research/Market Commentary

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