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Nov 14 - 05:00 AM
EUR/USD - Bears Needs To Break Key Fibo Soon To Deflate Bulls
First appeared on eFXplus on Nov 14 - 02:40 AM
  • EUR/USD's scope is for further losses to test the daily cloud base at 1.0967

  • However the key 1.0994 Fibo is proving difficult for bears to overcome

  • 1.0994 Fibo is a 61.8% of the 1.0879 to 1.1180 October rise

  • A failure to break and close below 1.0994 Fibo soon would encourage bulls

  • The risk would grow for recovery to the daily cloud top, now at 1.1064

  • Offer is at 1.1035. Previous nL2N27T05Z

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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