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Aug 24 - 03:55 AM

EUR/USD - Bears Have Run Into Big Trouble At The 200-DMA

By Martin Miller  —  Aug 24 - 02:35 AM
  • EUR/USD bears have run into significant trouble this week

  • EUR/USD found support on Wed by the 200-DMA, currently at 1.0802

  • That was ahead of 1.0786 Fibo, 76.4% of 1.0635-1.1276 (May-July) EBS rise

  • While spot is sub Tue's 1.0930 high and 1.0983 Fibo, outlook still bearish

  • 1.0983 Fibo is a 38.2% retrace of the 1.1276-1.0802 (July to August) drop

  • EUR/USD Trader TGM2334. Previous update nL1N3A32QH

Source:
Refinitiv IFR Research/Market Commentary

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