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Nov 25 - 03:55 AM

EUR/USD - Chart Bullish, But Beware Of Thursday's Price Action

By Martin Miller  —  Nov 25 - 02:45 AM
  • EUR/USD bullish while trading persists above 200-DMA, now at 1.0389

  • There is scope for gains to continue through last week's 1.0481 (EBS) peak

  • A "bear trap" appeared on the daily chart recently = a bullish signal

  • Market failed under 1.0256 Fibo, 23.6% of 0.9528-1.0481 (Sept-Nov) rise

  • However, bulls should beware of the large upper shadow on Thursday's candle

  • The dollar is in danger of a much bigger slump nL1N32K0G3

  • EUR/USD Trader TGM2334. Previous update nL1N32K0C2

Source:
Refinitiv IFR Research/Market Commentary

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