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Thomson Reuters
Jan 07 - 05:00 AM
EUR/USD's Bounce Back Puts Focus On Key Fibo And Cloud Top
First appeared on eFXplus on Jan 07 - 03:25 AM
  • The overall scope grows for eventual gains to the 1.1516 Fibonacci level
  • 1.1516 is a 50% retrace of the 1.1815 to 1.1216 (September to November) drop
  • On Thursday EUR/USD failed to register a daily close under the 1.1323 Fibo
  • 1.1323 is a 61.8% of the 1.1216 to 1.1497 (November to January) recovery
  • The market continues to trade back within the daily cloud (1.1354-1.1516)
  • EUR/USD's "false break" puts focus back on key upside Fibo nL1N1Z405N

EUR/USD Trader:

Daily Ichimoku Chart: Click here

Source:
Thomson Reuters IFR Markets

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