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The Euro looks to have found key Fibonacci and channel resistance at (1) as it has created a series of “lower highs.” How it reacts to this resistance will tell us a ton about the future of the risk trade!
Last Friday it appeared that TLT was approaching support after it declined almost 10% over the past month (see post here). Should the Euro break support and push further south, risk will be challenged and bond could see a short-term bounce.
HAPPY HALLOWEEN to all!