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Jul 30 - 03:55 AM

EUR/USD - Close Above Key Fibo Adds To The Upside Bias

By Martin Miller  —  Jul 30 - 01:54 AM
  • EUR/USD recovery moves has broken 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

  • That has unmasked the 1.1948 Fibo, a 38.2% of the same drop

  • Fourteen-day momentum has turned positive, risk shifts to the upside

  • We remain short at 1.1835, a bearish resumption is badly needed

  • Fed has blown the dollar's rise off course nL1N2P50QO

  • EUR/USD Trader TGM2334. Previous update nL1N2P50F9

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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