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Mar 07 - 05:55 AM

EUR/USD - Would Become More Bullish If It Overcomes The Cloud

By Martin Miller  —  Mar 07 - 03:40 AM
  • EUR/USD scope for gains to test daily cloud that spans the 1.0908-32 region

  • A break and daily close above the cloud would be a very bullish sign

  • Spot in February failed under 1.0712 Fibo level, setting a bear trap

  • 1.0712 Fibo is a 61.8% retrace of the 1.0448-1.1139 (Oct-Dec) EBS rise

  • A bear trap is set when a mkt brks below a tech level but quickly reverses

  • 14-day momentum remains positive, highlighting the bullish bias

  • EUR/USD Trader TGM2334. Previous update nL2N3FK0MT

Source:
Refinitiv IFR Research/Market Commentary

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