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Thomson Reuters
Jul 12 - 07:24 AM
EUR/USD - CORRECTED-BUZZ-EUR/USD Buckles Below Cloud Base, Risk Grows For Fibo Test
First appeared on eFXplus on Jul 12 - 03:45 AM

Corrects Fibo on third line

  • Collapsed and closed back below the daily cloud base which is now at 1.1717
  • This increases the likelihood of a drop through the 1.1649 Fibonacci level
  • 1.1649 Fibo -- 50% retrace of the 1.1508 to 1.1790 (June-July) EBS recovery
  • We are now bearish on this pair, it seems to be a fade on recovery
  • Looking to get short on near-term recovery attempts to daily cloud base
  • Third biggest July one-hour fall pierced cloud base on Wed nL1N1U7079

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