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Oct 04 - 02:55 AM

EUR/USD - Chart Points To Eventual Slump To A Major Fibo

By Martin Miller  —  Oct 04 - 01:51 AM
  • Our expectation is that near-term recovery attempts will likely be limited

  • Overall scope is for a bearish resumption to the 1.1493 Fibonacci level

  • 1.1493 Fibo is a 50% retrace of the 1.0636 to 1.2349 (2020 to 2021) rise

  • Our 1.1700 short hit our trailing stop at 1.1610, new offer placed at 1.1680

  • EUR/USD bulls need a daily close above the tenkan line at 1.1660

  • Dollar continues to dominate FX reserve data shows nL1N2QX0ET

  • EUR/USD Trader TGM2334. Previous update nL1N2QX07Z

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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