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Jan 17 - 02:55 AM

EUR/USD - Scope For A Big Break Above A Major Long-Term Fibo

By Martin Miller  —  Jan 17 - 02:15 AM
  • EUR/USD chart shows a market set to soar in coming sessions

  • The overall scope is for gains through the major 1.0939 Fibo

  • 1.0939 Fibo is a 50% retrace of the 1.2349 to 0.9528 (2021 to 2022) EBS drop

  • Fourteen-week momentum remains positive, reinforcing the bullish market

  • Immediate support comes in at Fri's 1.0781 low, level should prop spot

  • We are long at 1.0805. EUR/USD Trader TGM2334. Previous nL1N3410CM

  • Fragile dollar has room for a bigger drop nL1N3410P5

Source:
Refinitiv IFR Research/Market Commentary

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