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Thomson Reuters
May 04 - 03:48 AM
EUR/USD - Eventual Dive Below Huge Fibo Will Expose 2018 Low
First appeared on eFXplus on May 04 - 02:15 AM
  • Bears focused on downside, but are being held up by the huge 1.1936 Fibo
  • 1.1936 -- 61.8% retrace of the 1.1553 to 1.2556 (November to February) rise
  • Fourteen-week momentum negative, reinforcing overall bearish market
  • We remain short at 1.2020 for losses to our adjusted target at 1.1920
  • Our target is now just above the 1.1916 2018 low
  • We have lowered our stop to 1.1920 (cost), just above Thursday's 1.2009 high

EUR/USD Trader:

Weekly Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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