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Thomson Reuters
Aug 02 - 03:48 AM
EUR/USD - Bears Grapple With Cloud Base, Close Below Will Weaken
First appeared on eFXplus on Aug 02 - 01:50 AM
  • EUR/USD left a large upper shadow on Tuesday's candlestick line
  • Large upper shadow has increased the near-term downside potential
  • Bears are seeking a daily close below the cloud base, now at 1.1648
  • Cloud below the daily cloud base would expose the 1.1616 Fibo
  • 1.1616 -- 76.4% of 1.1575 to 1.1750 (EBS) rise. Tenkan at 1.1685 weighs
  • Recent close within cloud nL1N1UR05N. Trump and the dollar nL1N1UO0B5

EUR/USD Trader:

Daily Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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