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Mar 24 - 09:55 PM

EUR/USD - Trending Lower With Long-Term Fibo First Objective

By John Noonan  —  Mar 24 - 07:49 PM
  • EUR/USD trending lower - as 5, 10 and 21-day MA in bearish formation

  • The close below the 200-day MA (1.1861) opens up the downside

  • Minor support level around 1.1800, but momentum suggests lower objectives

  • A possible landing point is the 38.2 fibo of the 1.0636/1.2349 move @ 1.1694

  • A break below 1.1690 targets the November trend low at 1.1601

  • The 200-day MA at 1.1861 is resistance and close above relieves pressure

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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