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Feb 12 - 04:55 AM

EUR/USD - Gains Will Likely Be Stymied By Thick Cloud Resistance

By Martin Miller  —  Feb 12 - 03:15 AM
  • EUR/USD recently found support ahead of the 1.0712 Fibo, before recovering

  • 1.0712 Fibo, is a 61.8% retrace of the 1.0448-1.1139 (Oct to Dec) EBS rise

  • 14-day momentum bearish, tenkan and kijun lines are negative aligned

  • We are looking to short at 1.0850, as the upside should be limited

  • Thick daily cloud, that spans the 1.0828-1.0970 region, should weigh

  • EUR/USD Trader TGM2334. Previous update nL1N3EU0F0

Source:
Refinitiv IFR Research/Market Commentary

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