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Jan 05 - 05:55 PM

EUR/USD - Holds Key Uptrend And Fibo Props But Bulls Need More

By Randolph Donney  —  Jan 05 - 03:30 PM
  • Fri's 1.0877 low hit up TL from Nov-Dec lows & 38.2% of Oct-Nov rise

  • Big bounce off low to 1.09985 on EBS rejected by 1.1000

  • Close above tenkan & 50% of Dec-Jan drop at 1.1008 is key to further gains

  • O/B RSI divergence Dec top at 1.11395 reset with RSIs now at 50

  • Broader rebound off 2022 lows intact above 1.0862 monthly tenkan

  • But close above 61.8% of 2021-22 drop/2023's high at 1.1271/6 needed

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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