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Aug 02 - 02:55 AM

EUR/USD - Chart Is Producing Mixed Signals

By Martin Miller  —  Aug 02 - 02:16 AM
  • EUR/USD recovery on Thursday broke and closed above the 1.1873 Fibo

  • 1.1873 Fibo is a 23.6% retrace of the 1.2266 to 1.1752 (May to July) fall

  • But Friday saw it drop and close back under that technical level

  • Bulls need another daily close back above 1.1873 Fibo to unmask 1.1948 Fibo

  • 1.1948 Fibo is a 38.2% retrace of the 1.2266 to 1.1752 (May to July) fall

  • Fourteen-day momentum is positive, overall risk remains on the upside

  • EUR/USD Trader TGM2334. Previous update nL1N2P60AM

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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