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Nov 11 - 04:55 AM

EUR/USD - 3Rd Biggest 2021 Drop, Close Sub Key Fibo, Very Bearish

By Martin Miller  —  Nov 11 - 03:14 AM
  • Saw 3rd biggest drop of 2021 on Wed when it dropped 114 pips on the EBS

  • It also registered a daily close under the 1.1493 Fibonacci level

  • 1.1493 Fibo is a 50% retrace of the 1.0636 to 1.2349 (2020 to 2021) rise

  • New 2021 lows are being set, downside bias grows

  • Odds for much bigger losses towards the 1.1290 Fibo

  • 1.1290 Fibo is 61.8% retrace of the same 1.0636 to 1.2349 gain

  • EUR/USD Trader TGM2334. Previous update nL1N2S10IA

Daily Chart: Click here

Biggest Daily Drop Table: Click here

Source:
Refinitiv IFR Research/Market Commentary

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