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Dec 02 - 04:55 AM

EUR/USD's 2Nd Biggest Gain Of 2020 Puts Focus On Long-Term Fibo

By Martin Miller  —  Dec 02 - 02:50 AM
  • EUR/USD registered the 2nd biggest daily gain of 2020 on Tuesday

  • Tuesday saw a 142 pip gain according to prices on the EBS

  • Bulls are now focused on the 1.2103 long-term Fibonacci level

  • 1.2103 Fibo is a 76.4% retrace of the 1.2556 to 1.0636 (2018 to 2020) drop

  • Fourteen-week momentum remains positive, for weeks in a row = bullish

  • EUR/USD Trader TGM2334. Previous update nL1N2IH0DY

  • History suggests dollar could have a rough December nL1N2IH0I9

Weekly Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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