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Nov 04 - 05:55 PM

EUR/USD - Bears Have Big Hurdles By The High, But Bull's Key Props By 1.16

By Randolph Donney  —  Nov 04 - 03:40 PM
  • Short taken toward today's 1.1770 high have hurdles clustered just above

  • The 76.4% Fibo of 1.1880-602, cloud top and 55-DMA are at 1.1774/77/82

  • Bears need that grouping to hold for another shot at props by 1.16

  • Today's 1.1602 EBS low's by the 50% Fibo of the 1.1168-2014 rise at 1.1591

  • That rise from late June lows to the September's peak

  • Longs accumulated in late July are defending 1.16, as they did in September

  • A close below 1.1590 is needed to flush out stale spec longs, target 1.15

  • There are twin Fibos just under 1.15 and by the 1.1495 March EBS peak

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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