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Nov 15 - 03:48 AM
EUR/USD - Failure Under A Key Fibo Hints At A "bear Trap"
First appeared on eFXplus on Nov 15 - 01:40 AM
  • Still a chance for a break and daily close below the cloud base, at 1.0983

  • However, the failure to close under 1.0994 Fibo hints at a "bear trap"

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

  • There is a risk of a recovery to the cloud top, now at 1.1064

  • Offer is at 1.1035, but will exit if there is a daily close above the cloud

  • Related comment nL2N27S0A4

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Source:
Refinitiv IFR Research/Market Commentary

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