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Jun 27 - 03:48 AM
EUR/USD - Bears To Target Key Fibo On Clear 200DMA Breach
First appeared on eFXplus on Jun 27 - 01:55 AM
  • Tues key day influencing price but again the 200DMA just holding the fall
  • Bull momentum has faded significantly and RSI confirming price weakness
  • Our 1.1355 long play still in the game but looking vulnerable
  • Drop below 200DMA (1.1344) opens up Fibos off the 1.1181 to 1.1412 bull run
  • 38.2% comes at 1.1324 and pivotal 50% at 1.1297
  • Long upper wick on the weeklies also playing into the bears' hands

EUR/USD Trader:

EUR/USD Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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