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Sep 17 - 05:00 AM
EUR/USD - Bulls Trapped After Fibo Failure, 3Rd Biggest 2019 Drop
First appeared on eFXplus on Sep 17 - 03:10 AM
  • Bulls are trapped after Fri's failure to secure a close above 1.1088 Fibo

  • 1.1088 Fibonacci level is the major 50% retrace of the 1.0926 to 1.1249 rise

  • That led to the third biggest one-day fall of 2019 on Monday

  • The underlying outlook has weakened significantly

  • Risk grows for a deeper drop through the 2019 1.0926 low in coming sessions

  • EUR/USD's failure above a key Fibo making bulls think twice

EUR/USD Trader:

Biggest 2019 Falls Table: Click here

Daily Fibo Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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