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Thomson Reuters
Sep 03 - 03:48 AM
EUR/USD - Bulls Are Pressured But Build Ahead Of Key Fibo
First appeared on eFXplus on Sep 03 - 01:35 AM
  • Bulls suffered a setback on Friday, closing down 64 pips, but found support
  • Friday's low was 1.1585, just above the 1.1569 Fibonacci level
  • 1.1569 is a 38.2 percent retrace of the 1.1301 to 1.1734 August (EBS) rise
  • Increasing chance of a decent recovery moves in the days ahead
  • Bid at 1.1550 in order to take advantage of a near-term downside overshoot
  • 1.1518, 50 percent of the same August rise, should limit losses

EUR/USD Trader:

Daily Bollinger Chart: Click here

Source:
Thomson Reuters IFR Markets

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