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Jul 25 - 05:00 AM
EUR/USD's Sustained Trading Under Key Fibo Unlocks 2019 Low
First appeared on eFXplus on Jul 25 - 02:05 AM
  • EUR/USD saw a big drop on Mon to register a daily close sub key 1.1178 Fibo
  • 1.1178 is a 76.4% retrace of the 1.1106 to 1.1412 (May to June) rise
  • The market has subsequently remained below the 1.1178 Fibo
  • That puts overall bias squarely on the downside, the 2019 1.1106 low beckons
  • Negative alignment of tenkan and kijun lines adds to underlying bearish bias
  • EUR/USD weak as ECB looms, but there is a squeeze risk

EUR/USD Trader:

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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