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Thomson Reuters
May 08 - 05:00 AM
EUR/USD - Bulls Eye 30-DMA, Recent Peak And Key Fibo
First appeared on eFXplus on May 08 - 02:55 AM
  • Left a long tail on Fri's candle in a sign the downside is being rejected
  • Underlying bias is on the upside, with focus on 3 key levels
  • 30-DMA currently at 1.1224, May 1 1.1265 (EBS) peak and the 1.1273 Fibo
  • 1.1273 Fibo is a 76.4 percent retrace of the 1.1324 to 1.1110 April drop
  • Interim support comes in at 1.1155, which was Monday's low
  • EUR/USD's large short vulnerable, upside cover needed

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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