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Oct 14 - 04:55 AM

EUR/USD's "Bear Trap" Under A Key Fibo A S-Term Bullish Sign

By Martin Miller  —  Oct 14 - 02:35 AM
  • EUR/USD left a "bear trap" under 0.9639 Fibo, Thurs, a s-term bullish sign

  • 0.9639 Fibo is a 76.4% retrace of 0.9528 to 0.9999 (Sept to Oct) EBS rise

  • A bear trap is set when a market breaks below a tech level but then reverses

  • We are long at 0.9775 of a recovery back towards parity. Target is at 0.9925

  • EUR/USD Trader TGM2334. Previous update nL1N31D1TS

Source:
Refinitiv IFR Research/Market Commentary

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