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Nov 05 - 04:55 AM

EUR/USD - Chart Looks Poised To Drop Under The 2021 Low

By Martin Miller  —  Nov 05 - 02:59 AM
  • EUR/USD's last week left a "bull trap" above the key 1.1670 Fibo

  • 1.1670 Fibo is a 38.2% retrace of the 1.1909 to 1.1522 (Sept to Oct) drop

  • A bull trap is set when a market breaks above a level but quickly reverses

  • Break under the 1.1522 2021 low, posted on Oct 12, which will accelerate

  • Dollar has a bullish tilt, but bulls have work to do nL1N2RV0GR

  • EUR/USD Trader TGM2334. Previous update nL1N2RV0C0

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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