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Jul 31 - 05:00 AM
EUR/USD - Bears In Control Until There Is Close Above Key Fibo
First appeared on eFXplus on Jul 31 - 02:45 AM
  • EUR/USD's recent failure above the 1.1174 Fibo means the market is negative
  • 1.1174 Fibo is a 23.6% retrace 1.1412 to 1.1174 (June to July) drop
  • Negative alignment of tenkan and kijun lines adds to underlying bearish bias
  • We remain short at 1.1150 in anticipation for losses towards 1.1020 obj
  • Our stop remains well above the tenkan line at 1.1192, stop is at 1.1220
  • USD's short-term fate tied up with FOMC and the weak pound

EUR/USD Trader:

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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