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Aug 06 - 05:55 AM

EUR/USD - Three Factors On The EUR/USD Chart Points To A Likely Collapse

By Martin Miller  —  Aug 06 - 03:40 AM
  • EUR/USD ran into solid resistance ahead of the 1.1012 Fibo

  • 1.1012 Fibo, a 76.4% retrace of the 1.1139-1.0602 (December-April) EBS drop

  • Long upper shadow on Monday's candle, points to a rejection of the upside

  • The "cloud twist" under 1.08, next week, could well exert magnetism

  • A "cloud twist" is when the cloud extremes, senkou spans A and B, crossover

  • We are looking to get short at the 1.0960 level

  • EUR/USD Trader TGM2334. Previous update nL1N3JS0B4

Source:
Refinitiv IFR Research/Market Commentary

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