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May 13 - 03:55 AM

EUR/USD - Bulls Need To For A Break Above The Daily Cloud

By Martin Miller  —  May 13 - 02:50 AM
  • Bulls need a break above the cloud, that spans 1.0827-38 the region

  • Spot had failed under the 1.0611 Fibo, in April, a bear trap: bullish

  • 1.0611 Fibo is a 76.4% retrace of the 1.0448-1.1139 (Oct-Dec) EBS rise

  • Bear trap set when a market breaks below a tech level but reverses

  • 14-day momentum remains positive, highlighting the overall upside bias

  • EUR/USD Trader TGM2334. Previous update nL1N3HD0HV

Source:
Refinitiv IFR Research/Market Commentary

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