Derived Data That Drive Results
By Martin Miller — Nov 08 - 05:10 AM
The daily chart shows failures on both sides, which could see consolidation
Spot failed below the 1.0746 Fibonacci level, trapping bears
1.0746 Fibo is a 76.4% retrace of the 1.0602 to 1.1214 2024 (EBS) rise
It also failed above tenkan line, 1.0810, putting bulls in a bind
As 14-day momentum flipped to negative Wed, the bias is slightly bearish
EUR/USD Trader TGM2334. Previous nL1N3ME0GL
Daily Chart: Click here
Source:
Refinitiv IFR Research/Market Commentary
