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Oct 23 - 04:55 AM

EUR/USD - Chart Points To An Eventual Slump Under A Major Fibo

By Martin Miller  —  Oct 23 - 03:25 AM
  • EUR/USD's tenkan and kijun lines are negative aligned = bearish

  • Scope for an eventual slump under a major 1.0402 Fibonacci level

  • 1.0402 Fibo is a 50% retrace of the 0.9528-1.1276 (2022-2023) EBS rise

  • We are looking to get short at the 1.0630 level

  • A break and daily close above 1.0643 Fibo could signal a shift higher

  • 1.0643 Fibo is a 23.6% retrace of the 1.1276-1.0448 (Jul-Oct) drop

Source:
Refinitiv IFR Research/Market Commentary

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