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Thomson Reuters
Oct 05 - 03:48 AM
EUR/USD - Fibo, Cloud Base Converge To Provide Formidable Supply
First appeared on eFXplus on Oct 05 - 02:35 AM
  • Recovery on Thursday was curtailed by a key Fibo and the daily cloud base
  • Both have converged to provide formidable supply at 1.1546, tough to crack
  • Thursday's recovery got to 1.1542 on the EBS, our offer at 1.1540 was filled
  • 1.1546 Fibo: 23.6% of the 1.1815 to 1.1463 (September to October) decline
  • Scope grows for losses through Thursday's 1.1463 low
  • Close below 1.1422 Fibo Wed was bearish , but was not sustained

EUR/USD Trader:

Daily Cloud Chart: Click here

Source:
Thomson Reuters IFR Markets

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