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Oct 14 - 03:55 AM

EUR/USD's Close Above A Key Level Is A Big Threat To Bears

By Martin Miller  —  Oct 14 - 02:06 AM
  • Expectation is that the recent recovery attempt will likely be limited

  • However, the daily close above the tenkan line at 1.1581 is a concern

  • There is still a good chance of an eventual drop to the 1.1493 Fibo

  • 1.1493 Fibo is a 50% retrace of the 1.0636 to 1.2349 (2020 to 2021) rise

  • Tenkan and kijun lines are negatively aligned. Short at 1.1585 for 1.1350

  • EUR/USD Trader TGM2334. Previous update nL1N2R90BM

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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