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Sep 01 - 03:55 AM

EUR/USD - Chart Is Transmitting Some Very Mixed Signals

By Martin Miller  —  Sep 01 - 02:24 AM
  • EUR/USD recently broke and registered a daily close above the 1.1806 Fibo

  • 1.1806 Fibo is a 23.6% retrace of the 1.2266 to 1.1664 (May to August) fall

  • While that has unmasked 1.1894 Fibo, be mindful of thick daily cloud supply

  • 1.1894 Fibo is a 38.2% retrace of the same 1.2266 to 1.1664 drop

  • Daily cloud resistance now spans the wide 1.1832-1.2009 region

  • Long upper shadow on Tuesday's candlestick line is also a worry for bulls

  • EUR/USD Trader TGM2334. Previous update nL1N2Q20C0

  • Dollar's biggest long in nearly 18 months wrong-footed nL1N2Q00LQ

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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