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Oct 12 - 06:55 AM

EUR/USD - Chart Highlights A Market In Danger Of A Dive

By Martin Miller  —  Oct 12 - 04:50 AM
  • EUR/USD scope is for an eventual drop under major 1.1493 Fibo support

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

  • Below the 1.1493 Fibo would see much bigger losses in coming sessions

  • Tenkan and kijun lines are negatively aligned, reinforcing the bearish bias

  • Bulls need a daily close above the tenkan line that is now at 1.1585

  • EUR/USD Trader TGM2334. Previous update nL1N2R70FU

  • Dollar chart bullish but beware the growing long nL1N2R70IE

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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