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Jul 29 - 04:55 AM

EUR/USD - Upside Limited By Kijun Line And Key Fibo

By Martin Miller  —  Jul 29 - 02:59 AM
  • EUR/USD recovery will likely be limited by the kijun line, now at 1.1864

  • 1.1873 Fibo, 23.6% of 1.2266 to 1.1752 (May to July) fall, should also cap

  • Overall bias remains on downside, expect a bearish resumption to 1.1695 Fibo

  • 1.1695 Fibo, 38.2% retrace of the 1.0636 to 1.2349 (2020 to 2021) (EBS) rise

  • 1.1695 Fibo is where solid support might return. We are short at 1.1835

  • EUR/USD Trader TGM2334. Previous update nL1N2P40BZ

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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