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Sep 08 - 05:55 AM

EUR/USD - Chart Hints At A Bigger Recovery To Test A Key Fibo

By Martin Miller  —  Sep 08 - 03:45 AM
  • EUR/USD rebound, on Wednesday, to see a daily close above the 0.9983 Fibo

  • 0.9983 Fibo, a 23.6% retrace of the 1.0369 to 0.9864 (Aug to Sept) drop

  • Increased odds of bigger recovery moves to 1.0057, 38.2% of the same drop

  • We are looking to fade recovery at the 1.0050 level

  • A stop would be placed above the August 19 1.0095 Refinitiv high

  • EUR/USD Trader TGM2334. Previous update nL1N30E0J3

Source:
Refinitiv IFR Research/Market Commentary

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