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Sep 25 - 03:55 AM

EUR/USD - Double Close Under Major Fibo A Very Negative Sign

By Martin Miller  —  Sep 25 - 01:50 AM
  • EUR/USD two daily closes in a row below under major 1.1691 Fibo bearish

  • 1.1691 Fibo is a 38.2% retrace of the 1.1169 to 1.2014 (June to Sept) rise

  • There could now be a collapse to the daily cloud base that is at 1.1567

  • Immediate resistance comes in at Wednesday's 1.1719 EBS high

  • We remain short at 1.1710, target 1.1570, while our stop is at 1.1730

  • Dollar likely to climb as FX traders reassess COVID spread nL2N2GL09P

  • EUR/USD Trader TGM2334. Previous update nL2N2GL069

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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