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Nov 20 - 04:55 AM

EUR/USD - Chart Increasingly Positive As Key Fibo Now Overcome

By Martin Miller  —  Nov 20 - 03:05 AM
  • EUR/USD has finally sustained the close above the 1.0862 Fibo = bullish

  • 1.0862 Fibo is a 50% retrace of the 1.1276-1.0448 (July-October) EBS fall

  • Scope is growing for much bigger gains to test the 1.0960 Fibo

  • The 1.0960 Fibo is a 61.8% retrace of the same 1.1276-1.0448 drop

  • 14-day momentum remains positive, reinforcing the bullish market structure

  • EUR/USD Trader TGM2334. Previous update nL1N3CI0I4

Source:
Refinitiv IFR Research/Market Commentary

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