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Thomson Reuters
Jul 10 - 12:12 PM
EUR/USD - Downside Risk Grows, But Close Below Fibo Needed
First appeared on eFXplus on Jul 10 - 09:55 AM
  • Daily close sub 1.1724 -- 23.6% 1.1508-1.1791 rise -- will weaken outlook
  • Huge indecision in the market as a doji was left on Monday's candlestick
  • Doji -- where opening and closing prices are similar
  • Bulls failed to register a daily close above 1.1772 Fibo, since dropped
  • 1.1772 Fibo -- 76.4% retrace of the 1.1853 to 1.1508 June fall
  • We are looking to get short at 1.1770 on a near-term rebound

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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