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Thomson Reuters
May 01 - 06:12 AM
EUR/USD - Bulls Eye 30-DMA Which Has Converged With A Key Fibo
First appeared on eFXplus on May 01 - 03:10 AM
  • Fri's recovery from the new 2019 1.1110 low gathers pace
  • Bulls grappling with 1.1217 Fibo, 50% of 1.1324 to 1.1110 April (EBS) drop
  • Bulls are looking past 1.1217 Fibo, eye a test of the 1.1242 Fibo (61.8%)
  • The 30-DMA is now at 1.1242 as it has converged with the 1.1242 Fibo
  • Failure near 1.1242 will keep bear cycle from Mar 1.1448 peak alive
  • Short at 1.1185. USD longs under severe pressure nL1N22C06J

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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