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Sep 18 - 02:55 AM

EUR/USD - Two Closes In A Row Under A Key Fibo An Ominous Sign

By Martin Miller  —  Sep 18 - 02:30 AM
  • EUR/USD saw a big drop Thursday to register a close under the 1.0669 Fibo

  • There was a second close below the 1.0669 Fibo on Friday

  • 1.0669 Fibo is a 76.4% retrace of the 1.0482 to 1.1276 (2023) rise

  • 14-day momentum remains negative, reinforcing the overall bearish bias

  • Also the tenkan and kijun lines are also negative aligned, also bearish

  • We are looking to get at 1.0710 for a deeper drop in coming sessions.

  • EUR/USD Trader TGM2334. Previous update nL1N3AR0ES

Source:
Refinitiv IFR Research/Market Commentary

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