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Mar 16 - 04:55 AM

EUR/USD's Recent Price Action Shows A Market Likely To Fall

By Martin Miller  —  Mar 16 - 03:30 AM
  • EUR/USD's bias is for an eventual test of the key 1.0880 Fibo

  • 1.0880 Fibo is a 76.4% retrace of the 1.0806 to 1.1121 recent recovery

  • Long upper shadow on Tuesday's candle points to a likely upside rejection

  • Still short at 1.1020 in anticipation for a bearish extension

  • Stop lowered to 1.1025, just above our entry at Tuesday's 1.1020 high

  • EUR/USD Trader TGM2334 Previous update nL2N2VI0G2

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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