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Feb 26 - 04:55 AM

EUR/USD - Could Climb Towards A 'Cloud Twist' On The Horizon

By Martin Miller  —  Feb 26 - 03:00 AM
  • EUR/USD daily "cloud twist", circa 1.0930 on Friday, could attract spot

  • The cloud twist is when the cloud extremes, senkou spans A and B, cross

  • Last week spot failed under the 1.0712 Fibo, setting up a "bear trap"

  • 1.0712 Fibo is a 61.8% retrace of the 1.0448-1.1139 (Oct to Dec) EBS rise

  • Bear trap: when spot breaks below a tech level but reverses and is bullish

  • However a big upper shadow on Thur's candle is a sign of an upside rejection

  • EUR/USD Trader TGM2334. Previous update nL2N3F80M6

Source:
Refinitiv IFR Research/Market Commentary

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