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Sep 16 - 03:55 AM

EUR/USD - Chart Negative Due To Two Major Technical Factors

By Martin Miller  —  Sep 16 - 02:45 AM
  • Dollar has room to extend gains against its main rivals nL1N30M0RB

  • EUR/USD's long upper shadow on Mon's candle highlights the bearish market

  • Scope for an eventual collapse under the 2022 0.9864 low in coming sessions

  • The failure close above the 1.0176 Fibo has set up a bull trap: bearish sign

  • 1.0176 Fibo: 61.8% retrace of the 1.0369 to 0.9864 (Aug to Sept) EBS drop

  • We are looking to get short at 1.0025, ahead of the tenkan line at 1.0031

  • EUR/USD Trader TGM2334. Previous update nL1N30M0C9

Source:
Refinitiv IFR Research/Market Commentary

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