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Thomson Reuters
Jun 07 - 05:00 AM
EUR/USD's "double Failure" Above 2 Fibos May See Drop To 30-DMA
First appeared on eFXplus on Jun 07 - 02:45 AM
  • EUR/USD sees a "double failure" above key 1.1277 and 1.1283 Fibo levels
  • Fibos: 50% of 1.1448 to 1.1106 drop and 38.2% of wider 1.1570 to 1.1106 fall
  • Those failures above the two Fibos are weighing heavily on the market
  • The market broke but failed to close above them on Wednesday and Thursday
  • We have placed an offer at 1.1275 in anticipation of the bearish resumption
  • Risk growing for a bearish resumption back to the 30-DMA, now at 1.1195

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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