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Nov 22 - 04:55 AM

EUR/USD - Will Weaken Further If There Is A Close Under Key Fibo

By Martin Miller  —  Nov 22 - 02:55 AM
  • EUR/USD outlook mixed until there is a confirmatory close under 1.1290 Fibo

  • If spot registers a daily close under the broken 1.1290 Fibo = bearish

  • That would increase the scope for much bigger losses towards 1.1040 Fibo

  • 1.1290 Fibo is a 61.8% retrace of the 1.0636 to 1.2349 (2020 to 2021) rise

  • 1.1040 Fibo is a 76.4% retrace of the same 1.0636 to 1.2349 gain

  • EUR/USD Trader TGM2334. Previous update nL1N2SA0A5

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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