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Thomson Reuters
May 06 - 03:48 AM
EUR/USD - Bears Still Look To Fibo, Trend And Heavy Resistance
First appeared on eFXplus on May 06 - 01:45 AM
  • Bullish pullback into Friday close significant: bulls have work to do
  • Key resistance close by and Frid 1.1205 top the initial hurdle
  • Gain consolidation likely early Mon as price pivots the 10DMA at 1.1182
  • Bears still focus on 1.1147 Fibo, 76.4% retrace of 1.1110 to 1.1265 rise
  • Longer-term trend remains down: Need a breach of 30WMA, 1.1332, to alter
  • Shorter-term and price bounded by 1.1110 Apr 26 low and 1.1265 May 1 high

EUR/USD Trader:

EUR/USD Daily Candlestick Chart: Click here

Source:
Thomson Reuters IFR Markets

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