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Jun 07 - 03:55 AM

EUR/USD - A EUR/USD Close Under Key Broken Tech Support Would Unmask Fibo

By Martin Miller  —  Jun 07 - 02:00 AM
  • Bears are still waiting for a daily close under broken kijun line at 1.2126

  • A close under the kijun line would see bears tighten their grip on this mkt

  • That would increase the odds of a deeper fall to the 1.2051 Fibonacci level

  • 1.2051 Fibo is 38.2% of the 1.1704 to 1.2266 (March to May) EBS gain

  • We are short at 1.2160 but market is on a knife-edge, could go either way

  • EUR/USD Trader TGM2334. Previous update nL2N2NM0E7. Beware nL2N2NJ34G

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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