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May 01 - 04:55 AM

EUR/USD - Builds Support Ahead Of Key Fibo, Expect A Break Higher

By Martin Miller  —  May 01 - 02:55 AM
  • EUR/USD setbacks have been limited by the key 1.0959 Fibo

  • 1.0959 Fibo is a 23.6% retrace of the 1.0517-1.1096 (March-April) EBS rise

  • There is scope for an eventual break above the April 1.1096 peak

  • 14-day momentum remains positive, tenkan and kijun lines are bullish aligned

  • We are long at 1.0965 for eventual gains to 1.1095, stop is at 1.0895

  • Previous update nL1N36V0RF. EUR/USD Trader TGM2334

Source:
Refinitiv IFR Research/Market Commentary

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