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Jan 30 - 03:55 AM

EUR/USD - Bears Need To Force A Daily Close Under The Thick Cloud

By Martin Miller  —  Jan 30 - 02:35 AM
  • EUR/USD on Friday and Monday broke but failed to close under the 1.0822 Fibo

  • 1.0822 Fibo is a 76.4% retrace of the 1.0724 to 1.1139 December EBS rise

  • A daily close below the 1.0822 Fibo is needed to weaken the market further

  • Fourteen-day momentum remains negative, reinforcing the downside bias

  • Bears need a daily close under the cloud that spans the 1.0775-1.0922 region

  • EUR/USD Trader TGM2334. Previous update nL1N3EJ0GU. Dollar nL1N3EI0GZ

Source:
Refinitiv IFR Research/Market Commentary

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