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Mar 01 - 04:55 AM

EUR/USD - Stuck Due To Conflicting Signals On The Daily Chart

By Martin Miller  —  Mar 01 - 04:00 AM
  • EUR/USD outlook is mixed due to conflicting signals

  • In the middle of Feb spot failed under 1.0712 Fibo, setting up a bear trap

  • A bear trap is set when a market breaks below a tech level but then reverses

  • 1.0712 Fibo is a 61.8% retrace of the 1.0448-1.1139 (Oct-Dec) EBS rise

  • The large upper shadow on the Feb 22 candle continues to limit the upside

  • There is interim resistance at Tuesday's 1.0856 high

  • EUR/USD Trader TGM2334. Previous update nL2N3FE0PA

Source:
Refinitiv IFR Research/Market Commentary

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