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Apr 30 - 02:55 AM

EUR/USD's Double Close Above A Key Fibo Could See It Soar

By Martin Miller  —  Apr 30 - 01:43 AM
  • Dollar resumes fall and things could get worse nL1N2ML3NS

  • EUR/USD is on course for an eventual test of the 1.2197 Fibo

  • 1.2197 Fibo is a 76.4% retrace of the 1.2349 to 1.1704 2021 (EBS) drop

  • Two daily closes in a row above 1.2103 Fibo, a 61.8% of same fall, bullish

  • Tenkan and kijun lines are positively aligned, adding to the upside bias

  • We remain long at 1.2065, trailing stop is at 1.2090 to lock in some profit

  • EUR/USD Trader TGM2334. Previous update nL1N2ML3MZ

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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