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Feb 21 - 03:55 AM

EUR/USD - 'Cloud Twist' And 'Bear Trap' Points To Bigger Gains

By Martin Miller  —  Feb 21 - 02:35 AM
  • A EUR/USD daily "cloud twist", circa 1.0930 on March 1, could attract spot

  • The cloud twist is when the cloud extremes, senkou spans A and B, cross

  • Last week spot failed under the 1.0712 Fibo, setting up a "bear trap"

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

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

  • Those that are bearish should note a bear trap is usually a bullish sign

  • EUR/USD Trader TGM2334. Previous update nL2N3F50K5

Source:
Refinitiv IFR Research/Market Commentary

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