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Aug 04 - 11:55 AM

EUR/USD - Bulls Can Target A Key Fibonacci Level

By Peter Stoneham  —  Aug 04 - 09:40 AM
  • Not as clear as the GBP/USD bull reversal but still significant

  • EUR/USD clear above 1.1000 and above the Aug. 2 1.1020 sell-off high

  • Bulls can target the 1.1052 50% Fibo level: taken off 1.1276-1.0913

  • Breach of the 10DMA adding to the bull break; a close above 1.1008 key

  • Daily momentum readings remain negative: strong close to lift the indicator

  • Daily head and shoulders forming, could limit the EUR's bullish potential

  • Weekly hammer also forming but would need confirmation next week

    For more click on the links below

Refinitiv IFR Research/Market Commentary


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