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Thomson Reuters
May 28 - 03:48 AM
EUR/USD - Downside Risk Grows As A Key Fibo Blocks The Upside
First appeared on eFXplus on May 28 - 02:25 AM
  • EUR/USD has closed back below the 30-DMA, now at 1.1196
  • That after the market was capped by the 1.1215 Fibonacci level
  • 1.1215 Fibo is a 23.6% retrace of the 1.1570 to 1.1106 (2019) drop
  • While 1.1215 Fibo remains intact, that keeps overall bias on the downside
  • We have pulled our 1.1160 bid and will stand aside for now
  • Bid pulled as a result of2 growing doubts about bullish outlook

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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