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Oct 07 - 03:55 AM

EUR/USD - Weak EUR/USD At Risk Of A Big Collapse Under A Key Fibo

By Martin Miller  —  Oct 07 - 02:40 AM
  • EUR/USD scope is for a bigger collapse under the 1.1493 Fibo

  • 1.1493 Fibo is a 50% retrace of the 1.0636 to 1.2349 (2020 to 2021) rise

  • Tenkan and kijun lines are negatively aligned, reinforcing the bearish bias

  • Bulls need a daily close above the tenkan line now at 1.1630

  • Dollar looks set for bigger gains in coming sessions nL1N2R20F4

  • EUR/USD Trader TGM2334. Previous update nL1N2R207I

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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