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Mar 31 - 04:55 AM

EUR/USD's Jump Overcomes Multiple Levels, A Major Fibo Unmasked

By Martin Miller  —  Mar 31 - 02:45 AM
  • EUR/USD closes above March 17/29 1.1137 matching highs and the 1.1151 Fibo

  • The 1.1151 Fibo is a 50% retrace of 1.1495 to 1.0806 (Feb to Mar) EBS drop

  • The daily close above these broken levels is a very bullish sign

  • Expect further gains to the 1.1232 Fibo, 61.8% of the same fall

  • 14-day momentum has been positive recently, adding to the upside potential

  • Stand aside for now. EUR/USD Trader TGM2334 Previous update nL2N2VX1RN

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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