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Nov 21 - 04:55 AM

EUR/USD - Where EUR/USD Closes In Relation To A Key Broken Fibo Is Key

By Martin Miller  —  Nov 21 - 03:15 AM
  • EUR/USD has breached the 1.0960 Fibo, a daily close above would be bullish

  • 1.0960 Fibo is a 61.8% retrace of the 1.1276-1.0448 (July-October) EBS fall

  • Fourteen-day momentum remains positive, reinforcing the overall upside bias

  • A failure to close above the 1.0960 Fibo would hint at "bull trap"

  • A bull trap is set when a market breaks above a tech level but then reverses

  • EUR/USD Trader TGM2334. Previous update nL1N3CL0IE

  • The tide continues to turn against the U.S. dollar nL1N3CL0QZ

Refinitiv IFR Research/Market Commentary


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