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Mar 08 - 03:55 AM

EUR/USD - Could Collapse Further Under Key Fibo Support

By Martin Miller  —  Mar 08 - 02:12 AM
  • Recent rejection of daily cloud, which spans 1.2074-1.2162 region, bearish

  • Subsequent big drops Thursday on Friday, increases the odds of a deeper fall

  • A break and daily close under the 1.1887 Fibo would weaken outlook further

  • 1.1887 Fibo is a 61.8% retrace of the 1.1602 to 1.2349 (Nov to Jan) rise

  • We are looking to get short at 1.1950 in anticipation for a bigger drop

  • EUR/USD Trader TGM2334 Previous update nL2N2L30HS

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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