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Aug 31 - 03:55 AM

EUR/USD - Bulls Tighten Their Grip, But Now Face Cloud Supply

By Martin Miller  —  Aug 31 - 01:59 AM
  • EUR/USD's recent recovery has broken above key 1.1806 Fibo resistance

  • 1.1806 Fibo is a 23.6% retrace of the 1.2266 to 1.1664 (May to August) fall

  • A daily close above the 1.1806 Fibo is needed to unmask the 1.1894 Fibo

  • 1.1894 Fibo is a 38.2% retrace of the same 1.2266 to 1.1664 drop

  • Bulls should be mindful of the thick cloud, that spans 1.1832-1.2009 region

  • EUR/USD Trader TGM2334. Previous update nL1N2Q10BD

  • Dollar's biggest long in nearly 18 months wrong-footed nL1N2Q00LQ

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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