Blog post
Technical Analysis: Multiple bottoms near 61.8% Fibo keep 1.0990 on EURUSD sellers’ radar

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While a short-term falling triangle is appealing on the face of EURUSD's H4 chart, pair's multiple bounces off 1.0990, coupled with the recent lower low formation, keep sellers on the alert. However, sustained trading below 1.0990 becomes necessary to visit October 08 low around 1.0940 and the previous month's bottom surrounding 1.0880.

Meanwhile, buyers will look for entry beyond 50% Fibonacci retracement level of 1.1030 to question the triangle resistance and 38.2% Fibonacci retracement around 1.1060/65. If at all bulls manage to dominate beyond 1.1065, 1.1100 and 1.1180 will be on their watch-list.

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