Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Aug 03 - 04:55 AM

EUR/USD - Multiple Failures Above A Key Fibo Very Bearish

By Martin Miller  —  Aug 03 - 02:50 AM
  • There has been multiple failures above the 1.0271 Fibo: "bull trap"

  • 1.0271 Fibo, a 38.2% retrace of the 1.0787 to 0.9952 (EBS) drop

  • Bull trap set when a market breaks above a tech level but then reverses

  • Expect a bigger fall to retest the recent 2022 0.9952 low, eventually

  • However, a daily close above 1.0271 Fibo would shift the bias higher

  • We are looking to get short at 1.0190 for a bearish resumption

  • EUR/USD Trader TGM2334. Previous EUR/USD update nL1N2ZE0DL

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2022 eFXdata · All Rights Reserved
!